What you need to know about ‘Your First Home’ scheme for first-time buyers

Government announcement sparks a rally in FTSE-listed housebuilders, but there are still a lot of unknowns

A fresh scheme to help people on to the housing ladder is to be unveiled by the government next month, but a debate is already raging over whether it is first-time buyers or housebuilders who will be the biggest winners.

At the weekend, Andy Burnham announced plans for Your First Home, which aims to give a helping hand to first-time buyers who do not have the luxury of being able to call on the “bank of mum and dad”.