Help to Buy scheme offers buyers with a 5% deposit an interest-free loan of up to 20% of the value of most new homes. A £3.5bn investment in government loans to financially stretched homebuyers and a £12bn scheme to increase the availability of mortgages to people who cannot afford a large deposit were unveiled by the chancellor “to support a new generation in realising the dream of home ownership”.
The two measures were the centrepiece of a package of financial support for the housing market, and aim to provide assistance to first-time buyers and those “trapped” in their existing homes and unable to take the next step up the property ladder………………………………………..Full Article: Source