The Government’s proposed Your First Home scheme would allow eligible buyers in England to purchase new-build homes with a 2.5% deposit and a 20% equity loan.
Housebuilder shares rose after the Government announced the proposed Your First Home scheme, which would support eligible first-time buyers in England with a 2.5% deposit and a 20% equity loan. Full details are due in next month’s Budget.
Housebuilder shares rose sharply after the Government announced plans for a scheme aimed at helping first-time buyers in England onto the property ladder, according to a Press Association report.
The proposed Your First Home initiative would offer eligible buyers a 20% Government equity loan, alongside a 2.5% deposit requirement. Further details, including household income and local property price caps, are due to be set out in next month’s Budget.
Barratt Redrow shares rose 12% in early trading, while Persimmon gained 15%, Bellway and Taylor Wimpey each climbed 12%, and Vistry advanced 10%.
The scheme is expected to include an initial interest-free period, while developers would contribute towards its costs. Analysts and industry figures welcomed the potential boost to demand but said the scheme’s impact would depend on its final terms, including price caps, income limits and developer contributions.
