The UK government has announced the launch of a new 95% mortgage scheme.
· 95% mortgage guarantee launches today, available on high streets across the country
· Scheme part of a range of ownership options to help make home ownership a reality
· New figures show demand for home ownership has soared during lockdown, with nearly 80% of private renters now saving for a deposit
A new government-backed mortgage guarantee scheme, announced in the March Budget, to help people with 5% deposits get on to the housing ladder will be available to lenders from today 19 April 2021, a spokesperson confirmed.
The scheme will help BOTH first time buyers AND current homeowners obtain a mortgage with a 5% deposit to buy a house of up to £600,000 – offering a route to home ownership to those with low deposits.
For more details see https://homebasedbusinessideasuk.blogspot.com/2021/04/property-news-95-mortgages-available-now.html
The stamp duty holiday comes to an end in June, prompting fears of a slowdown in the property market. The new guarantee scheme could push prices to new record highs making it more difficult for first-time-buyers to get on the property ladder.
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