LONDON, March 20 Britain launched a new scheme
to help struggling home buyers on Wednesday, as the government
looks to support growth in a housing market seen as key to an
Shares in Barratt Developments and other British
housebuilders leapt after Britain's finance minister George
Osborne launched the initiative, called 'Help-to-Buy', in his
budget speech to parliament.
Osborne said Britain would commit 3.5 billion pounds ($5.3
billion) of capital spending over the next three years to shared
equity loans for new build homes, and would offer guarantees to
support 130 billion pounds of mortgages.
The scheme would be available from the start of 2014 and
will run for three years.
Barratt Developments rose 5 percent, while Redrow,
Bellway, Persimmon and Taylor Wimpey were
up 2.9 to 3.5 percent.