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First Time Home Buyers get Back On The Property Ladder - The Daily Mail

A £400million shared-purchase scheme and the return of 90 per cent mortgages mean that more young people can own a home

Life may finally be getting easier for first-time homebuyers. Banking giant HSBC last week announced a range of reasonably priced mortgages for borrowers with as little as ten per cent deposit.

These are the first such deals seen since the mortgage drought took hold in autumn 2007 and experts hope rival lenders will now begin to compete.

But even without such loans there are still ways for homeowners with little cash to climb on to the housing ladder.

Thousands of borrowers are qualifying for mortgage subsidies of up to 30 per cent under HomeBuy Direct, a £400 million Government initiative.

Up to 18,000 families could be helped into new homes, but buyers must be quick off the mark.