First-time buyers offered 20% deposit loans | This is Money

First-time buyers offered 20% deposit loans | This is Money

First-time buyers will be offered a deposit contribution of up to 20%, under the new FirstBuy programme announced in today's Budget.

The scheme will earmark £250m to help first-time buyers' if they buy new-build property, thanks to the Government and housebuilders jointly boosting their deposits.

Chancellor George Osborne said that the scheme will help 10,000 first-time buyers to get on the housing ladder.

It will also help prop up the housebuilding industry and demand for new-build properties.