One couple in Bristol are celebrating after a government-backed shared equity scheme helped them to find an affordable home.

Kimberley Niemand and her husband Philip had recently relocated from Wales and were finding the search for an affordable property difficult, until they learned about HomeBuy Direct.

The couple, who have a young daughter and another baby on the way, were able to move into a three-bedroom house at Barratt's Fieldways development in the town for just 75 per cent of the asking price.

"It's an excellent incentive as eligible buyers receive an equity loan of up to 30 per cent, jointly funded by Barratt and the government's Homes and Communities Agency and this makes new homes much more affordable," commented Mrs Niemand.

Plans were recently unveiled by the government to make more affordable homes available in rural areas by placing shared ownership properties in more than 13,000 rural settlements across the UK under a protection scheme.
Source:17/08/09