// BBC UK NEWS — CRONACA
Burnham announces scheme to help first-time buyers on to housing ladder
The prime minister announced the scheme on the eve of the Labour Party conference in Liverpool
Prime Minister Andy Burnham is to introduce a new scheme to try to help young people get on the property ladder.
The "Your First Home" scheme would be open to first-time buyers in England with a deposit of 2.5%. It would provide them with a loan worth 20% of their new build property's value to help pay for the purchase.
Burnham said people who do not have support from the "bank of mum and dad" are among those the scheme would aim to help.
There would be an initial interest-free period for the equity loan, with more details expected in next month's Budget.
The Conservatives warned the policy would leave first-time buyers taking on more debt and risks "pushing up the price of new homes".
Burnham said: "Too many young people are struggling with the cost of housing, with many giving up hope of ever having a home to call their own.
"So we will step in to help more first-time buyers on to the housing ladder."
The PM added he believes the scheme will give builders the "confidence to deliver the high-quality new homes the country needs".
Funding for the scheme is expected to come from reprioritising existing budgets, but housing developers will pay towards the running costs.