In the right direction for first time buyers in the UK

I was glad when I heard in the news about the Help To Buy scheme. David Cameron announced last night that the Help To Buy scheme, which provides 95 per cent mortgages, will start next week – three months ahead of schedule. The three-year, £12billion Help To Buy scheme will give tens of thousands the chance to buy a house worth up to £600,000 with just a 5 per cent deposit. The Government will underwrite an additional 15 per cent of the loan to make the deal attractive to lenders. RBS and NatWest will be the first to start offering the cheap mortgages, followed by the Halifax. HSBC, Santander, Nationwide and Barclays have yet to decide whether to take part.http://www.dailymail.co.uk/news/article-2437450/NatWest-RBS-open-late-night-cope-demand-12bn-state-backed-mortgages.html