Ward Homes, builder of Eden Village in Sittingbourne, has joined the developers who have welcomed government moves to boost the housing market.

The Kent-based developer was reacting after the government launched a scheme to underwrite mortgages worth hundreds of millions of pounds for new homes.

Under the new scheme, the government will underwrite a percentage of loans on new property - meaning buyers will not have to raise such a large deposit.

Mark Vanson, sales director at Ward Homes, said: "Not everyone has been able to produce the hefty deposits demanded by lenders since the credit crunch began. Now the banks have agreed to start lending again on new build homes at 95 per cent loan to value, so homebuyers will only need a deposit of five per cent.

"In practice that means that you could buy a three bedroom home worth £174,995 from Ward Homes with a deposit of just £8,750.

"Make no mistake - this is a game changing moment for creditworthy buyers who have been understandably frustrated for years about not owning a home of their own. Anyone who doesn't have much equity in their current home but needs to take the next step on the ladder also stands to benefit."

Eden Village is an attractive, traditional development overlooking the countryside. Ideal for young families, the scheme is surrounded by expanses of open space. Currently on its final phase, prices at the development start from £189,995 for a three-bedroom home.

Other developers such as Berkeley and Persimmon Homes South East have also welcomed the moves.