Chorley Building Society has brought out a mortgage specifically for the government’s First Homes scheme, which has been designed for first-time buyers looking to purchase in their local areas.

The mortgage is available at up to 95% LTV of the discounted purchase price on a two-year discount with an initial rate of 2.39%.

For properties with a Energy Performance Certificate rate of A or B, the lender will provide £250 cashback.

In line with government rules, the price for properties bought under the scheme in the Chorley area must not exceed £250,000.

Chorley customer services director Kim Roby says: “We are very pleased to be among the first providers in the UK to support the new government backed scheme.

“It’s important to us, as a mutual, to be able help FTBs take their first steps into home-ownership.  The scheme prioritises key workers and we are very proud to be able to offer this to some of our most hard-working and dedicated members of the community.”

And head of lending Liz Pearson adds: “The ‘First Homes’ initiative is the third government backed scheme that the society now offers.

“Our Help to Buy and shared ownership mortgages have proved popular and we’re very pleased to be able to support the government’s scheme, which is part of their commitment to deliver 1 million homes by 2024.”