10:35am Friday 27th March 2009
By Peter Law
BOSSES of a new bank for Hampshire were today unveiling plans to help scores of people buy homes.
Business leaders behind the unique financial institution – dubbed “uvestinhampshire” – are aiming to attract £15m of investment over the next three months to fund the loans.
They hope to tempt investors from across the world to pump their pension funds and reserves into the fledgling bank with high returns.
Loans to top up deposits will then be offered to hopeful homebuyers, exclusively in Hampshire, who are struggling to get on the housing ladder.
The scheme, which was first revealed by the Daily Echo last month and is the first of its kind in Britain, will be outlined to council leaders at a meeting of the Hampshire Senate today.
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