RESOLVED - that (A) £1m be allocated to support the LAMS scheme in East Herts and that the following parameters be set:
(1) the Scheme to apply to all post code areas within East Herts; and
(2) the maximum loan per property be set at £160,000;
(B) the Executive Member for Finance be authorised to determine the allocation of the £1m in (A) above to either a cash backed or guarantee scheme, in the light of confirmed interest from local and national mortgage providers;
(C) subject to the determination by the Executive Member of Finance in (B) above, approval be given in respect of Lloyds TSB Bank plc and Lloyds TSB Scotland plc for:
(1) a Scheme Indemnity Deed as set out at Essential Reference Paper ‘E’ of the report submitted; and
(2) an Officer’s Indemnity Deed as set out at Essential Reference Paper ‘F’ of the report submitted.