Burnham announces "Your First Home" scheme for first-time buyers

Prime Minister Andy Burnham has announced a new scheme to help first-time buyers in England purchase new-build homes with a reduced deposit.

• Burnham has announced the "Your First Home" scheme, offering first-time buyers in England a 20% equity loan on new-build homes with a 2.5% deposit.
• Burnham said the scheme targets buyers who cannot rely on the "bank of mum and dad" for financial support.
• Further details are expected in next month's Budget, with pre-registration set to open before the end of the year.
• Burnham also unveiled plans to strengthen councils' powers to take over long-term empty homes, cutting the eligibility period from two years to six months.