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Loans offered to homebuyers

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Nurses will be able to take advantage of 50% equity loans when buying houses, chancellor Alistair Darling said in his budget speech last week.

‘From this April, key workers – such as teachers and nurses – and first-time buyers will be able to borrow money from new-shared equity schemes,’ he said. ‘Until now these were only available to those who could afford three-quarters of the price of their new home. I am now extending the scheme to help those able to afford half of the price of their new home.’

However, Gail Adams, Unison’s head of nursing, said that there was very little in the speech that would make a difference to nurses’ everyday lives. ‘My overall impression is that it is a fairly non-descript budget,’ she said.

Community nurses were offered a reprieve in mileage allowances, which the chancellor said would not be reduced (NT News, 4 March, p5).

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