TV Dragon Offers Interest-Free Loans To Homebuyers

Wed, 23 Sep 2009

Entrepreneur and Dragon’s Den star James Caan is offering £1bn-worth of interest free loans to UK homebuyers in a bid to kick-start the UK property market .

Caan is working in conjunction with property portal Look4Aproperty.com, which he part owns, and commercial lender Hitachi Capital in a move he claims will make it easier for buyers to get on the housing ladder.

The interest-free unsecured loans are available to help homebuyers cover stamp duty and legal fees, and repayments can be spread over two or three years.

Access to the loan scheme is being provided through estate agents across the UK that sign up with the Look4Aproperty.com website. All buyers need to do is ask a local participating estate agent to arrange the finance for them as part of the offer they make on a property .

Commenting on the billion-pound scheme, Caan said: "This gets rid of those financial obstacles that are holding up the housing market. Thousands of people who have been putting off moving or buying their first home can now climb up the property ladder without further delays."

"With all the incidental costs in an interest-free package, you can put as much as you can into the deposit ."
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