Housebuilder Barratt said 20,000 people had expressed an interest in buying one of its 3,000 houses available under the HomeBuy Direct scheme

The government has provided 拢400m for the scheme, which opened on Wednesday. It gives would-be homeowners earning less than 拢60,000 the chance to move into a new house for 70% of the purchase price. The Homes and Communities Agency and the developer provide the remaining 30% as an equity loan which is interest-free for five years.

Barratt was one of the first builders to have received the necessary licence from the Office of Fair Trading to go through with Homebuy purchases.

A spokesperson for the HCA said most of the major builders now had licences.

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