The Chancellor announced additional measures to help more people buy property – whether they are First-Time Buyers struggling to raise a deposit, or those with a growing family needing to move but without sufficient value in their current home to enable them to move to a larger place. This is already in effect for new builds where the builders and/or Government help with the deposit. From January 2014 the help is to be expanded with the Help to Buy mortgage scheme which will not be limited to newly built properties and will only require a 5% deposit.
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