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NACFB: Maximise Your Membership Roadshow, Bristol
Extra cash help for first-timers
Margaret Beckett has revealed the government has added an extra £100 million to its scheme to help up to 18,000 first-time buyers get on to the property ladder.
Beckett also announced that more than 130 developers have agreed to take part in the scheme whereby households with incomes below £60,000 will be able to buy a new home with the help of a shared equity loan. The loan will be partly funded by the government and the developer and will be free of charge for five years. First-time buyers can use it as a deposit and it can cover up to 30 per cent of the purchase price.
Those eligible for the scheme will be able to apply for it from early 2009.
But the Royal Institution of Chartered Surveyors (Rics) has warned that the scheme will only work if lenders agree to give mortgages to those applying for the scheme.
- Banks agree Principles with small business leaders
- Burgesses rejects AMI call for removal of MPPI from inquiry
- Opportunities will open up for buyers in early 2009 says Cluttons
- FSA gives Pure warning
- Baseline Capital joins HML
- Scotland equity release market sees huge growth
- NU aims to attract graduates to financial advice
- L&G retains loyalty
- Looking forward to 2010
- Mortgage Intelligence offers compliance support for DAs
- ERSA to launch in 2009
- Providers too slow to stop mis-selling