Housing scheme to help first-time buyers in North

02/09/2008 - 08:24:09
First-time buyers in the North will be offered a new way of getting a foot on the property ladder today through a novel partnership buying scheme.

The region is the first area in the UK to introduce the initiative, which will see private developers and housing associations shouldering 50% of the property's cost.

Barclays bank has also agreed to offer would-be buyers mortgages for the remaining half of the price without the requirement for a deposit.

The government project is being piloted in the Maghon Park area of Portadown, Co Armagh.