Funding secured for cheaper homes

The East Midlands has secured more than £430m in government funding for affordable housing for key workers.

Housing Minister Yvette Cooper said thousands of low cost homes were planned for the area.

They are being built to help workers such as nurses, police officers and teachers get on to the housing ladder.

Under the scheme, a family on a joint income of £40,000 could afford a mortgage of £200,000 as opposed to the £160,000 available on the open market.

Ms Cooper said: "It is not just in the South East where people face housing affordability pressures.

"That's why we want to make it easier for nurses, teachers, and other first time buyers to get support to help them onto the housing ladder and are building more thousands more homes over the long-term."