PM announces new low deposit scheme to help ‘Generation Rent’
7 October, 2020
This week the Prime Minister announced a new scheme that would enable first time buyers to purchase their own home with a deposit as low as 5%. At a stroke, this would kickstart the mortgage market which has seen the recent withdrawal of 95%, 90% and even 85% LTV products.
He has asked housing ministers to look at a scheme whereby loans would be guaranteed by the Government – similar to what has happened with the Help to Buy scheme.
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