Shared equity mortgages

In his recent budget, Gordon Brown ( travel insurance ) announced a new “Homebuy” scheme

Mortgages. First time buyers let down by the governments Homebuy scheme.: At this stage, the Governments Homebuy mortgage scheme for firsttime buyers seems a waste of time. This article explains why.
Buy to Let Mortgages. Boom time returns.: Buy-to-let mortgages are booming again. What's changed and what, as a new landlord, do you need to look out for?
Mortgages. Big changes in the buying and selling of houses.: In mid summer 2007 everyone who wants to sell a property will have to prepare a Home Information Packs before they put it on the market. This article explains what the Packs will have to include what they'll cost - and whether we expect them to work!
House price rises – a cautionary tale: The housing market seems to be buoyant with house sales exceeding expectations in some parts of the country. If mortgage rates start to rise, the market may see a correction. Take care not to take on too much debt.
HIP's – the full story: Ready, steady, go! With just three months to sell your home using the forthcoming and compulsory information pack, you need to get your act together. Here we face the facts.
Buy to let – a change for the better: Do you own a buy-to-let property? There are some proposed new rules regarding tenancy agreements. Find out more. Buy to let – a change for the better

Under the scheme, homebuyers can take out a mortgage for 75% of a home's value and the government and the lender each would top up with 12.5%. Because of the extra cost to the lender, the interest rates are expected to be around 1% higher than base rate. Presumably, ( medical insurance ) borrowers will still have to prove that they can afford the repayments.

When borrowers ( unsecured loans ) eventually sell the property, they will receive 75% of the net ( personal loans ) proceeds as the lender and the government will effectively own the balance. However, borrowers will be able to pay off the top-up loans at any time without penalty.