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Brown to help first-time buyers on property ladder

Chancellor Gordon Brown will this week unveil plans to give up to 100,000 first-time buyers financial assistance on to the housing ladder.
The proposals, which will see couples having to raise as little as half the cost of a home under a deal struck between the Government and mortgage lenders, have received a broad welcome from the industry.

The rest of the equity in the property would be shared between the Government and the bank or building society, potentially cutting average repayments on a £200,000 home by up to £372 a month.

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