UK government to raise earnings limit to £140K for first-time buyer loan scheme in London

The government is expected to allow households earning up to £110,000 to apply for the new Your First Home loan scheme in England, with a higher limit of £140,000 expected for property purchases in London. The scheme offers government-backed equity loans covering 20% of new-build properties, allowing for deposits as low as 2.5% and including an initial interest-free period. Details, including salary caps, are due to be confirmed at next week's Budget.