Government First Time Buyer Help Scheme

Government First Time Buyer Help Scheme.

As part of David Cameron’s plans, first-time buyers of new homes will be able to borrow up to 95% of their value.  The mortgage indemnity scheme, in which the government will underwrite part of the risk, could help up to 100,000 people.

Some of the key proposals are:

• Mortgages of up to 95% of the value of new homes to be offered with government underwriting part of the risk
• £400m public fund to help developers "unblock" stalled housing schemes
• Largest discounts for social tenants wanting to own their properties under right to buy
• More public sector land to be made available for building
• Planning obligations on stalled projects reviewed
• Up to £150m to help bring empty housing back into use

Building more homes is one of the government's economic priorities, according to Mr Cameron.