 mortgage. The initiative was originally due to finish at the end of 2022 but has been extended to December 31, 2023. First-time buyers can use the scheme, as well as home movers, but the property you want to buy must be below £600,000. Or the Help to Build scheme offers an equity loan to help you build a home or convert a previously commercial building. Through the scheme, the government offers you a loan bas){kind=link}
FIRST-TIME buyers are finding it harder to get on the property ladder, but Jack and Jacob bought their home with a tiny deposit and even bagged some free cash.
Law student Jack and HR executive Jacob moved into their three-bedroom home in Coxhoe, near Durham in June.
The couple said dreams of home ownership were far from the top of their mind – until they found out about the Own New scheme.
It is run through Darlington Building Society and gives any homebuyer – not just those looking for their first home – a chance to buy a new-build property with only a 5% deposit.
Getting together a deposit is often the biggest challenge on the journey to owning a home.