India, Sept. 27 -- Andy Burnham Announces New Housing Scheme: UK Prime Minister Andy Burnham has announced a new scheme, "Your First Home", which will support first-time buyers in England who have a regular income but find it difficult to save a large deposit or are unable to get financial help from their families. The program is designed to support buyers who otherwise would not be able to buy a home on their own.

How Will The Scheme Help First-Time Buyers?

Under the proposed scheme, eligible first-time buyers will be able to receive a 20% equity loan towards the purchase of a new-build home. Buyers will need to provide a minimum 2.5% deposit, while the equity loan will have an initial interest-free period. The scheme will also include...