The Prime Minister has been in Northamptonshire today to launch the Government's flagship Help to Buy scheme.
David Cameron launched the £12 billion scheme in Weston Favell in Northampton. It's designed to get first time buyers on to the housing ladder.
Click below to watch Elodie Harper's report.
A new scheme help people buy their own home was launched today in Weston Favell in Northampton by the Prime Minister.
The Help-to-Buy mortgage guarantee means that buyers will only need a deposit of as little a 5 per cent.
The Prime Minister said that too many hardworking people were finding it impossible to buy their own home because they "haven’t got rich parents and can’t pay the deposit up front".
– David Cameron
There is a need for Government to act. Buying your first home is about far more than four walls to sleep at night.
It’s somewhere to put down roots and raise a family. It’s an investment for the future. Above all, it’s a sign that everything you’ve put in has been worth it.
So from today, thousands of people will be able to get a foot on the housing ladder by applying for the new Help to Buy mortgage guarantee.
If you've got 5 per cent of the funds for a mortgage deposit, we’re providing a guarantee to the banks to help you get the rest.
The Prime Minister David Cameron has arrived in Weston Favell in Northamptonshire to mark the launch of the Help to Buy Mortgage Guarantee.
Natwest, RBS, Halifax and Bank of Scotland will start offering the Help to Buy mortgage guarantee this week.