The government last week got the go-ahead to open up to more people a scheme to assist first-time home buyers.

Changes to the First Home Fixed scheme were approved in Tynwald, increasing the income limits for each category by £5,000 (for example, single person without children to £30,000).

The scheme applies to new first-time buyer and buy-back properties, that are allocated directly to applicants on the register of first-time buyers.

The government offers an equity loan up to 30 per cent of the overall purchase price of properties, which are sold at a discounted rate.

Infrastructure Minister Ray Harmer said: ’The department has identified that a number of potential purchasers who would benefit from the assistance provided by this scheme are falling just outside the financial eligibility criteria and are therefore unable to purchase approved properties.’

The move was approved, although Lawrie Hooper (LibVannin, Ramsey) said the upper limit for discounted homes prices - £150,000 - was inadequate, as most homes cost more.