By Marcus Leach

David Cameron is set to unveil new plans that will allow first-time home buyers to borrow up to 95% of the value, with the government set to underwrite part of the risk.

The move comes as the current government looks to tackle the shortage of affordable homes in England.

The new plans will include a £400m fund which will help to kick-start schemes which are ready but lack necessary finance.

Set to start in July it is hoped the initiative will create 32,000 jobs and see 16,000 new homes built.

According to Labour the government have failed to deliver on their housing promises, which had been seen as one of the economic priorities. And even the government have said their plans are 'radical'.

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