Getting on the property ladder: the govt's home buying schemes explained...

This article first appeared on Your Money. In a bid to give the economy a desperately needed boost, the Government has introduced four new schemes to get more people onto the property ladder. Read our guide to what each scheme involves and what they mean for prospective buyers. Help to Buy equity loans With a Help To Buy equity loan, buyers can purchase a newly built home with at least 75% of the cost met by a mortgage and a deposit of at least 5% of the purchase price. The rest is covered by the Government through an equity loan. These loans are open to both first-time buyer...