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Neil Weston, Principal of Scout Financial Services welcomed the announcement:  We are thrilled to see Government support for first time buyers included in the Chancellor’s Budget today. We have been calling for greater support for mortgage lenders in this space for a while now and action on this was promised by the PM back in October, so it’s great to finally see a plan in place. Whilst the availability of mortgages for 90% of the purchase price has improved recently, the market has remained restricted by tight lending criteria and the lack of high loan-to-value mortgages. More support for lenders to lend a higher percentage of the purchase price will no doubt be welcomed across the industry and by first time buyers. However, many first time buyers may find themselves in a tricky position where they will now have enough money saved for a deposit, but they are unable to secure a mortgage as a result of being furloughed.

Neil westonBudget in parliamentPrincipal of scout financial servicesRishi sunakPrivacy noticeChancellor rishi sunakPrime ministerVirgin moneyStamp dutyScout financial servicesCtp videoAutoplay videoBudget mortgages5 percent mortgage scheme95 percent mortgageRishi sunak mortgage scheme