FACTBOX - Brown unveils housing market package

LONDON (Reuters) - Prime Minister Gordon Brown's government cut an unpopular tax on home purchases on Tuesday and announced a 1 billion pound package aimed at boosting the slumping housing market.

Here are the details:

TAX ON HOME PURCHASES

* Properties worth less than 175,000 pounds will be exempt from a home purchase tax known as stamp duty for one year from Sept 3, up from a 125,000 pound threshold now.

The move will cost the exchequer about 600 million pounds, spread over two fiscal years, the Treasury said.

OTHER MEASURES

The Department for Communities and Local Government also announced the following measures, worth about 1 billion pounds:

* A new mortgage rescue scheme to help 9,000 vulnerable families struggling with payments avoid losing their homes. Eligible home owners will have three options under the scheme:

-- a registered social landlord clears all secured debt and occupants will then pay a rent they can afford.