Launch of new help for homebuyers

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Launch of new help for homebuyers

Launch of the MyChoice HomeBuy scheme

Andrew Smith MP welcomed the launch in Oxford of MyChoice HomeBuy, a new Government-backed scheme to help first time buyers purchase their home. Provided locally through Catalyst Housing Group, the scheme is aimed at people whose household income is between £20,000 and £30,000. Including a low-cost equity loan, it would enable for example a couple to buy a £200,000 house from £760 a month, where otherwise they would pay £1,350. The scheme includes provision for key workers, but others are eligible as well.

Speaking at the launch Andrew Smith said: "This scheme will be a big help to many local people struggling to get on the housing ladder. It has a number of key advantages: it is low cost, people buy a whole house, and repayments are predictable."

If you would like further information about the scheme, please ring the Catalyst HomeBuy Team on 0845 601 7729 or e-mail homebuy@chg.org.uk