AssetID: 56066823
Headline: UNCAPTIONED: Burnham Announces New Scheme To Help First-Time Buyers
Caption: Burnham Announces New Scheme To Help First-Time Buyers. Prime Minister Andy Burnham has announced a new scheme aimed at helping more first-time buyers in England onto the property ladder. Under the "Your First Home" programme, buyers with a deposit of 2.5% could receive a government equity loan worth 20% of a new-build property's value. The loan would initially be interest-free, with further details expected in next month's Budget. Burnham said the scheme would particularly help people unable to rely on financial support from their families, arguing that too many young people have given up hope of owning a home. The government has also announced plans to make it easier for councils to take over empty properties and use them for people in housing need. However, the Conservatives warned the first-time buyer scheme could increase household debt and push up new-build prices. Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Current Affairs & Politics,Andy Burnham,UK Prime Minister,announces,new scheme,help,first-time buyers,Your First Home,programme,deposit,2.5%,government equity loan,20%,new-build property value,interest-free
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