Homebuy Direct

The Government have announced a new scheme to assist first time buyers, which is called “Home Buy Direct”.

It is likely that this scheme will commence early in 2009

Under this scheme the Government and the developer for some categories of new build property will provide an interest free loan of up to 30% of the cost of the property for up to 5 years.

After 5 years an interest rate charge of 3% will be applied.

At present the precise eligibility criteria and details of how the scheme will be offered and administered is still under consideration.

As soon as details are available we will publish them on this page of our website.