| UPDATED: 15:00, Wed, Mar 10, 2021
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The Chancellor has made no secret of the fact he cannot save every job. Rishi Sunak said: “Our Covid support schemes have been a lifeline to millions, protecting jobs and incomes across the UK. There’s now light at the end of the tunnel with a roadmap for reopening, so it’s only right that we continue to help business and individuals through the challenging months ahead – and beyond.”
| UPDATED: 14:05, Wed, Mar 3, 2021
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Interest rates are low across the board at the moment and have been for a number of years. Today, Rishi Sunak warned they cannot stay that way forever as he laid out his 2021 Budget.
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Housing
Mr Sunak announced a mortgage guarantee scheme which is designed to help home buyers purchase properties worth up to £600,000 with a deposit of just five percent.
The Government will underwrite the remaining 95 percent.
Speaking from the House of Commons, he said: I’m pleased to say that several of the country’s largest lenders including Lloyds, NatWest, Santander, Barclays and HSBC will be offering these 95% mortgages from next month, and I know more, including Virgin Money will follow shortly after. A policy that gives people who can’t afford a big deposit the chance to buy their own home.