First-time buyers are being advised to act fast to benefit from the latest Government scheme designed to get many of them on to the housing ladder.

People who have given up hope of ever getting on the housing ladder can get a good solid start with the FirstBuy scheme, just launched with £500 million Government backing.

If they can stump up a deposit of just 5%, they have a chance of securing a 20% loan from the Government and their builder, which is interest free for five years. They will then need a mortgage of only 75% to complete the deal.

Be warned that not all builders are taking part in the new scheme, only selected properties will be on offer with the scheme and you'll have to be quick off the mark.

But if you are lucky enough to get on board, a deposit of just £5,500 could, for example, get you and your suitcases through the front door of a one-bedroom Ward Homes apartment in Chatham.

And a deposit of £8,900 could see you tucking your pyjamas under the pillow at a three-bedroom Taylor Wimpey home in Ashford.

Other FirstBuy opportunities just announced in Kent also include two- and three-bedroom homes by Redrow at Sutton Woods, Maidstone. And some of Jones Homes' properties at Shurland Place, Minster, Isle of Sheppey, could also be on your FirstBuy shopping list.

FirstBuy is part of the Government's wider economic strategy to boost growth by stimulating housing demand.

It is seen as an important way to preserve construction jobs until recovery lifts off.

The Government's £500 million is being shared between 100 builders who will offer the scheme across the country, meaning about 10,500 first-time buyers will take advantage of the scheme in the next couple of years.

Nick Fenton, managing director at Ward Homes, which has homes available under the FirstBuy scheme in Chatham, Sittingbourne and Sheerness, says: "Thanks to the FirstBuy scheme, hundreds of first-time buyers in Kent now have the chance to move into a new home with a minimal deposit.

"For first-time buyers the scheme presents an outstanding opportunity to take their first step on the housing ladder and I would urge anyone interested to act quickly to avoid disappointment."

Jason Stokes, regional sales and marketing director for Taylor Wimpey, which has homes available at nine Kent developments, says: "We are delighted to be working with the Homes and Communities Agency to offer the FirstBuy scheme, which is one of a number of fantastic homebuyer incentives available at Taylor Wimpey developments across Kent.

"FirstBuy offers a new and affordable way for first-time buyers to step on to the property ladder with ease, and it means home-ownership is now within the reach of even more people who may otherwise have given up hope of purchasing a property of their own.

"The scheme is already proving hugely popular at our developments in the region, and because availability is strictly limited, it's essential that anyone interested in taking advantage gets in touch with us as soon as possible."

Applicants for FirstBuy are allowed to be earning up to £60,000 in total household income a year.

In most cases, the maximum price of a FirstBuy home can be no more than £280,000, although the Department for Communities and Local Government has indicated that £300,000 may be allowed in more expensive areas.