A shared equity initiative has helped a Lancashire couple to move into an affordable home in Darwen.

Dylan Avery and his partner Nicola are now the proud owners of a new house on Miller Homes' Woodland Park development in the town, thanks to HomeBuy Direct.

Mr Avery said the couple were struggling to find an affordable home as they were having difficulty finding a large enough deposit, until they heard about the shared equity scheme.

"Nicola saw an advert in the local paper offering the chance to buy a new home through the Homebuy Direct scheme. So we just had to find out more," he commented.

The scheme works by giving eligible buyers the opportunity to purchase 100 per cent of their home by paying 70 per cent of the value now, with the developer and the government equally funding the remaining 30 per cent.

Dedicated HomeBuy Agents have also been appointed by the government to help the shared equity initiative get off the ground.

Source: Direct News 23/07/09