The Budget introduces a new 'Your First Home' scheme for first-time buyers, according to the Mirror's Budget winners-and-losers roundup, carried by AOL.
Under the scheme as the Mirror reports it, first-time buyers would put down a minimum deposit of 2.5%. The government would lend them 20% of the property's value as an equity loan, which would be interest-free at first.
The report does not say how long the interest-free period lasts or what interest rate applies after it ends. It also gives no details of who would be eligible, whether there is a cap on property prices or when the scheme would start.
The details have not yet been checked against the Budget document.