News
Dragons Caan
sets up £1bn
home-buying fund
Dragon’s Den star, James Caan, famous for
using his own money to back fledgling
businesses, now wants to help ordinary
people climb the property ladder with a
£1bn fund to kick-start the housing market.
Image by Foreign and Commonwealth Office
Caan claimed this of the offer they make on the obstacles which are holding up
‘unprecedented’ funding property they wish to buy. the housing market. This means
package would take the pain that thousands of people who
out of buying and selling a Loans can be spread over two have been putting off moving or
home by offering interest-free or three years – interest free buying their first home can now
loans to cover such costs as – while a 10-month loan is climb up the property ladder
stamp duty and legal fees. available to cover the cost of without further delays.’
a home information pack.
‘A healthy housing market is the Gerald Grimes, divisional
lifeblood of the UK economy. Caan and his business partner managing director of Hitachi
This country needs sound in the venture, Aaron Turner, Capital Consumer Finance, said:
initiatives to get things moving began negotiating funding ‘This is huge leap forward for
again,’ he said. for the plan last year after the market and for thousands of
Caan bought a 25% stake in people who want to buy or sell
With financial backing from Turner’s online property portal, a home but can’t find the extra
Hitachi Capital, the scheme
Look4AProperty.com. funding to make it happen.’
requires prospective buyers to
ask their local estate agent to Caan claimed: ‘This scheme
Source:
Propertyweek.com
arrange a loan for them as part gets rid of those financial
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