Cash Injection to Slash ; First-Time Buyers at Two Plymouth Housing Schemes Will Have Part of the Cost of Their Homes Paid for by the Taxpayer in a Bid to Prevent Key Redevelopments Stalling During the Economic Downturn.

Summary

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First-time buyers at two Plymouth housing schemes will have part of the cost of their homes paid for by the taxpayer in a bid to prevent key redevelopments stalling during the economic downturn.

But when the purchasers sell their homes they will have to give some of the proceeds, including part of any profit, to the Government.

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Extract

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Cash Injection to Slash ; First-Time Buyers at Two Plymouth Housing Schemes Will Have Part of the Cost of Their Homes Paid for by the Taxpayer in a Bid to Prevent Key Redevelopments Stalling During the Economic Downturn.

The schemes, described as a 'significant investment' for Plymouth, will be available to such key workers as nurses and teachers, earning under pounds60,000 a year, who have found getting mortgages difficult if not impossible.

They will cover about 1...

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