Burnham announces 'Your first home' help-to-buy scheme for England

Prime Minister Andy Burnham has announced 'Your first home,' a help-to-buy scheme for first-time buyers in England. Eligible buyers would receive a 20% equity loan, initially interest-free, for a new-build home with a 2.5% minimum deposit. Income, deposit and price caps would limit it to modest homes for buyers without large savings or family support.