government first time buyer initiative

[danchip]

my sister in law has just sold her house to a couple who used a government run intiiative where they only need to pay for 75% of the value of the house and the government pay the rest.

can anyone give me any details about this and how you go about applying for it

[factor-fiction]

If you mean the following scheme it doesn't really work that way. The first time buyer buys 70% but only gets 70% of teh equity. The government and developer get the other 30 % between them

http://www.guardian.co.uk/uk/2009/apr/22/budget-2009-homebuy-direct-first-time-buyers