Funding for first time buyers

Housing Wed, Mar 23, 2016 10:25 AM

Funding for first time buyers

First time buyers can now benefit from a multi-million pound boost to help them onto the housing ladder said Housing Minister Mark Prisk.

The Minister announced the first allocations from a £280million pot to help a further 16,500 first time buyers benefit from the FirstBuy scheme.

Mr Prisk confirmed that £40million will go to 41 developers to help 2,500 first-time buyers this year - and called on them to go further, and bid for a share of £240million to help deliver thousands more new homes under the scheme next year.

He said: "The scheme has become a major player in helping people onto the property ladder and getting Britain building again - and I'm determined to maintain that momentum.

"Firstbuy has already proved hugely successful, providing a practical alternative to the Bank of Mum and Dad for thousands of first-time buyers across the country."

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