The mortgage guarantee scheme will encourage lenders to offer 95% mortgages, making home ownership more accessible to those with a smaller deposit. But how will this affect our housing market?
The mortgage guarantee scheme will encourage lenders to offer 95% mortgages, making home ownership more accessible to those with a smaller deposit.#PlanForJobs #Budget2021 pic.twitter.com/YKofpwp6yf
— HM Treasury (@hmtreasury) March 3, 2021
A new policy to stand behind homebuyers: a mortgage guarantee.
Lenders who provide mortgages to home buyers who can only afford a 5% deposit, will benefit from a government guarantee on those mortgages. #Budget2021 pic.twitter.com/kyNbzHOMdM
— Rishi Sunak (@RishiSunak) March 3, 2021
More information about this scheme can be found on the Government outline:
https://www.gov.uk/government/publications/the-mortgage-guarantee-scheme