UK Money News
8th April 2008
£3m of grants to improve access to property market
New measures been announced to help first time buyers and low income groups with the costs of entering the housing market.
Under the new scheme £3 million will be available in the form of grants to key workers and some first time buyers.
The money is earmarked for covering solicitors' fees and for buying furniture with each grant standing at £1,500.
Access to the grants is limited to those who are already on the government's Open Market Homebuy Scheme.
Gordon Brown unveiled the introduction of the grants today along with housing minister Caroline Flint.
Mr Brown said: "We want to do more for people who may need an extra hand to buy their first home.
"By offering new grants and sharing a stake in their home, we are making the dream of a new home more affordable for thousands of low-income first-time buyers and key workers such as nurses and teachers."
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