Thousands first-time house buyers flock to join share equity scheme | Mail Online

Thousands first-time house buyers flock to join share equity scheme | Mail Online

First-time house buyers locked out of the property market by the high deposits demanded by lenders are flocking to apply for the government’s FirstBuy shared equity scheme, according to housebuilder Barratt Developments.
Under the £250million scheme, aimed at helping 10,000 families get a foot onto the housing ladder, the government and housebuilders jointly provide a 20 per cent loan to top up a first time-buyers’ deposit of 5 per cent.
Barratt Developments chief executive Mark Clare said the scheme, announced in George Osborne’s Budget, had taken off ‘very quickly’.