Details announced of extension of scheme to help first time buyers

Housing Minister Mark Prisk will set out details of an extension to the FirstBuy scheme.

  • £40 million will go to 41 developers to help 2,500 people onto the property ladder
  • The money is the first allocation from a £280 million pot for first time buyers
  • Under the FirstBuy scheme house hunters are offered an equity loan of up to 20%

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New first-time buyers scheme

A new scheme to help first-time buyers get on the housing ladder is being launched. ITV's Tonight programme has been told Britain's housing market is facing a "perfect storm" with potential buyers and sellers left in limbo and prices flat lining