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government first time buyer initiative

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danchip | 12:53 Fri 04th Sep 2009 | Personal Finance
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my sister in law has just sold her house to a couple who used a government run intiiative where they only need to pay for 75% of the value of the house and the government pay the rest.

can anyone give me any details about this and how you go about applying for it
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If you mean the following scheme it doesn't really work that way. The first time buyer buys 70% but only gets 70% of teh equity. The government and developer get the other 30 % between them

http://www.guardian.co.uk/uk/2009/apr/22/budget-2009-homebuy-direct-first-time-buyers
18:53 Fri 04th Sep 2009

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