Your First Home Scheme Needs £17,000 for Buyers

First-time buyers in England need approximately £16,850 for a 5% deposit on an average house price of £272,000, according to Moneyfacts. The 'Your First Home' scheme, announced recently, aims to assist these buyers. Experts suggest various strategies such as using a Lifetime Individual Savings Account (LISA) to save up to £4,000 annually for a 25% government bonus. Given the rising cost of homeownership, understanding these requirements and savings tips is crucial for potential buyers.