First Time Buyer Loans

Launched in 2015, our First Time Buyer Loans are available to assist with the costs associated with buying a home. Please note currently First Time Buyer Loans are only available in a small number of Local Authority districts.

Why a First Time Buyer Loan?

  • Typical 4.2% APR
  • No early repayment charges
  • Flexibility to make lump sum reductions of £100 or more at any time
  • Potential for deferred repayment period to enable you to settle into your new home before repayments begin
  • Ethical lender working in partnership with your Local Authority

Sedgemoor and West Somerset First Time Buyer Loan

If you have lived in Sedgemoor or West Somerset for the last three years and are hoping to buy your first home anywhere in the Wessex Resolutions catchment area, a loan may be available to help you top up your deposit or assist with moving/legal fees. If you have some savings towards your deposit, and have contacted your bank/building society to find out how much you can borrow in principle towards purchasing your first home, please complete the enquiry form or call us on 01823 461099.

North Somerset First Time Buyer Loan

Our scheme is aimed at those first time buyers, who have a local connection with the North Somerset area, who have already shown a commitment to save (so will have some savings but not necessarily a full 5% deposit), can demonstrate an ability to pay their ongoing commitments and are looking to buy a home in North Somerset.

Loans of up to £5,000 maximum are available. If you are interested in the scheme and would like to know more details about your eligibility for a loan or the terms and conditions that apply, please contact us on 01823 461009 or email enquiries@wrcic.org.uk.

Missing payments could affect your credit rating and ability to obtain credit in the future.
Wessex Resolutions CIC may insist on loans being protected at the Land Registry by a Title Restriction.  Loans are Subject to Status.

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