Prime minister Boris Johnson has vowed to create ‘Generation Buy’ with a low deposit mortgage scheme that he says could be ‘revolutionary’ for young people. First-time buyers have been finding it particularly hard to buy a property since the pandemic began as lenders have cut maximum loan to values (LTVs).
In an interview with the Telegraph before the start of the Conservative Party conference, Boris Johnson said a “huge” number of people were excluded from the owning a home and he wanted to solve the problem with a mortgage scheme that permitted deposits as little as five percent.
According to the report, Johnson has asked his ministers to work on a scheme to encourage the availability of long term fixed deals with five per cent deposit mortgages.
For the full article: https://www.mortgagesolutions.co.uk/news/2020/10/05/boris-johnson-plans-95-per-cent-mortgage-scheme/
The post ‘Generation Buy’ with a low deposit mortgage scheme appeared first on The Mortgage Bureau.
https://www.themortgagebureau.co.uk/first-time-buyer/generation-buy-with-a-low-deposit-mortgage-scheme/
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