More than 700 homes in 18 developments across the country have been chosen as the first to be offered under the government's First-time buyers' Initiative. The scheme is expected to help 15,000 house-hunters nationally into low cost home-ownership by 2010.

The project allows eligible first-time buyers to purchase a minimum 50% share in a new house, with the government making up the remainder.

Around 50% of the new homes will be for key workers such as nurses, teachers and police officers. The remaining homes will be made available to local residents who meet priority criteria identified by Regional Housing Boards.

Under the scheme, first-time buyers can increase the share in their home at any time. They will only be responsible for their mortgage payments for the first three years, after that period they will pay an additional charge based on the equity they don't own.

Duncan Innes, the English Partnerships director responsible for the First-time buyers Initiative said: “These new affordable homes will provide a real opportunity for first-time buyers in many communities across England, where they are needed most.”

“We want to help as many people as possible to take their first steps towards full home ownership, and we want to be able to do that quickly.  The First-time buyers’ Initiative will help us to do that.” 

Housing Minister Yvette Cooper said, "With rising house prices, many first-time buyers are struggling to get a first foot onto the ladder. Just because families can't afford the full house price doesn't mean they shouldn't have the chance to get started and buy a share in the first home of their own.”

The 18 sites announced are the first of up to 40 sites which English Partnerships hopes to identify early this year, which will contribute around 1,500 homes towards a total of 15,000 by 2010. 

Melanie Latham, a first-time buyer who has recently moved into one of the pilot homes at Barratt’s Axiom Scheme in Feltham, said: “As I work for a major tour operator, contracting hotels for holiday packages, I have to travel a great deal and I need to be based near Heathrow, so Axiom is ideally placed.” 

“My apartment is fantastic. This scheme makes buying a home affordable for ordinary people. As a first-time buyer, I never expected to be able to buy a property like this.”

The sites announced by English Partnerships today are the first of up to 40 expected to be identified this year, and are shared between 3 housebuilders:

• Barratts (Kings Oak) – Queensgate, Watford
• Barratts – Cathedral View, Ely
• Barratts – The Axis, Romford
• Barratts – Aspirations, Gravesend
• Barratts – Echo City 1, Leeds
• Barratts – City Point, Brighton
• Barratts – Oceana Boulevard, Southampton
• Barratts – The Zone, Bristol
• Barratts – Trafalgar View, Liverpool
• Bellway – First Central, Ealing
• Bellway – Ochre Yards, Gateshead
• Bellway – Broadlands, Leeds
• Bellway – Windsor Gate, High Wycombe
• George Wimpey – The Vineyard, Acocks Green
• George Wimpey – The Parks, Bracknell
• George Wimpey – Park 25, Redhill
• George Wimpey – Royal Mead, Swindon
• George Wimpey – Oakley Park, Swindon