UK Launches 'Your First Home' Scheme With 2.5% Deposit for First-Time Buyers
The UK government is set to introduce a new housing initiative called 'Your First Home' aimed at helping first-time property buyers. Under the scheme, eligible buyers can purchase newly built homes with a deposit as low as 2.5 percent. The government will also provide an equity loan covering up to 20 percent of the property's value to reduce the financial burden on buyers. Properties eligible under the scheme are capped at a price of £600,000. The initiative is designed to boost demand in the housing market and provide support to the construction industry.
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