Looking for a home to buy?
Archived press release
Date Published: 08/09/08
First time buyers will have the chance to get onto the property ladder
A £300 million government scheme will help up to 10,000 first time buyers into affordable homeownership over the next two years.
HomeBuy Direct will give eligible first time buyers keen to own a place of their own the chance to buy some newly built properties. Buyers will be offered an equity loan of up to thirty per cent of the value, co-funded by the government and the developer, free of charge for five years. As with other HomeBuy schemes, any first-time buyers whose household income is under £60,000 will be able to apply.
Not only will this help first time buyers, but it will also support the industry by identifying buyers for their new homes. This will help the housebuilding industry weather difficult conditions, so that, when the market recovers, they are ready to expand and get back on with building the new homes the country needs for the long term.
For further details, call 0845 601 7729 or visit www.homebuy.co.uk
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