A HARTLEPOOL housebuilder has clinched Government support to launch a scheme which will help hundreds of would-be homeowners.
The Government has approved a bid by Yuill Homes to bring in the Government-backed scheme FirstBuy.
FirstBuy is a shared equity scheme in which Yuill Homes will work with the Government to provide an interest-free loan for five years.
The loan will cover a maximum of 20 per cent of the purchase price of a house and the buyer would have to contribute a minimum deposit of five per cent.
FirstBuy will reduce the size of the mortgage required by the buyer to 75 per cent.
Yuill Homes will offer FirstBuy to help first-time buyers get a foot on the property ladder on a range of its developments, including College Gardens, in Billingham, and the forthcoming development at Cecil Court, in Hartlepool.
The same offer will be available at High View, in Blaydon, Dales View, in Consett, and Denewood, in Murton.
Yuill Homes managing director David Mullins said: “Yuill Homes was assessed in terms of ability to deliver, range of properties offered, quality and standards of property and value for money.
“We are very proud to be a leading North-East housebuilder, renowned for our high quality homes and excellence in customer service.
“With FirstBuy, we can offer first- time buyers who are struggling to get a foot on the property ladder another route of buying their first home.”
“We are delighted about our FirstBuy allocation, which is a true testament to the high quality of our range of homes.”