Another UK new homes developer is targeting first-time buyers with a new purchase scheme. David Wilson Homes unveiled the Head Start scheme, specifically designed to help the new homes buyer, by allowing them to pay just 85 per cent of the purchase with no deposit.

Purchasers take out mortgages for only 85 per cent of the value of their homes, while David Wilson Homes provides an interest free loan to cover the other 15 per cent. The deferred amount is then paid back as 15 per cent of the property’s open market value, either within ten years of purchase or at the time of resale if this is earlier than ten years.

The developers new financial package was announced just after a similar move by Redrow, which is offering to pay a five per cent deposit and £500 worth of mortgage payments on behalf of some applicants interested in its Solihull development.

David Wilson’s main catch is that their offer is not indefinite. Sales and marketing director Rebecca Littler said:

“Head Start is only available for a limited period, so anyone looking to take advantage of its benefits should register their interest now.”

David Wilson Homes hopes the offer will attract buyers to the Chase, its new Norfolk development. The new scheme will feature proposed facilities including a brand new school, local village centre, community hall and an array of shops, play area and football pitches.

US senators are working on a rescue package for troubled homeowners which could help revive the country’s real estate market. The Senate’s banking committee approved a plan that would see the availability of government-insured mortgages expanded in a bid to bail out hundreds of thousands of people threatened by foreclosure.

The New York Times reports the Republican Bush administration has suggested it could consider the idea because it involves no direct cost to taxpayers. Quoted by the paper, banking, housing and urban affairs committee chairman Christopher Dodd said:

“The primary goal here is to keep people in their homes, but also to establish a floor, a bottom to all this.”

If approved the new bill would create an affordable-housing fund which would provide about $500 million (£254 million) towards helping foreclosure-hit homes in its first 12 months.

White House experts are said to be keen to see more of the bill’s detail and welcomed the efforts being made. Earlier this week online real estate auction site RealtyBid reported interest in foreclosures was fuelling a sharp rise in its visitor numbers. Site president Tony Isbell said

“We are definitely seeing a growing number of people looking for real estate bargains. The swell of bank-owned foreclosure properties populating the majority of our website is a huge appeal to real estate bargain hunters.”

According to Isbell, In April RealtyBid attracted 630,000 unique visitors, its highest ever amount in a single month.

A new chief planner has been appointed by the UK government and charged with the aim of speeding up the country’s new homes development processes. Steve Quartermain was unveiled on Tuesday and immediately given the task of helping local councils deliver their local plans for better housing and sustainable communities.

He is expected to have a key role in reform of the planning sector at local levels, with the government concerned it is currently taking too long for local authorities to make decisions. Planning minister Caroline Flint said of the appointment:

“As chief planner Steve will help drive forward our ambitions to improve the skills and capacity of planners across the profession.”

She added his remit also included ensuring councils delivered

“high quality housing and infrastructure with environmentally friendly developments for communities.”

Mr Quartermain said:

“I am delighted to take up this role. It is a challenging and exciting time for planners in Government, councils and throughout the profession.

“My aim as Chief Planner is to make a positive contribution toward ensuring planning promotes the development of prosperous and vibrant communities.”

Mr Quartermain is likely to have his hands full quickly – on Monday the government announced it had appointed 14 experts and given them the task of ensuring developers improved their current ideas on how to implement eco-town developments in 14 short-listed locations.

Mr Quartermain is also set to play a major part in ensuring the development of new homes is speeded up to make sure the government hits ambitious new homes building rate.