YOUR FIRST HOME – NEW SCHEME FOR FIRST TIME BUYERS ANNOUNCED

Andy Burnham has announced a new ‘help to buy’ scheme for first-time Buyers.

The intention of the scheme (called “Your First Home”) is to help first-time Buyers who have a regular income but have been unable to save for a large deposit.

Under the scheme, first-time Buyers will get a 20% equity loan to help them buy a new-build home, with an initial interest free period and a requirement of a minimum deposit of 2.5%.

Household income caps and a deposit cap will be introduced to exclude those on the biggest incomes and with a large amount of savings; with the scheme targeted at those who may struggle to buy a home on their own. Price caps will ensure only modest houses can be purchased.

If you are a first time buyer and would like a quote for our legal costs, please call our helpful and friendly team at mosshaselhurst Solicitors on 01606 74301.