First-time buyers aid

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PERSIMMON will be the first housebuilder in the North East to offer prospective home buyers access to the Government’s FirstBuy 2 scheme.

It comes after the firm signed up with the Homes & Communities Agency.

FirstBuy is designed to help first-time buyers.

Persimmon Homes North East managing director John Eynon said: “FirstBuy support is offered through equity loan funding of up to 20 per cent of the purchase price split equally between the Homes & Communities Agency and us, the housebuilder.

“The first-time buyer has to raise funding, through a mortgage plus deposit, of 80 per cent of the purchase price.

“This is a huge help for people trying to get their first foot on the property ladder.”

Buyers can reserve their new home using the scheme from this week for legal completions from April 1.