Budget 2021: Government to guarantee five per cent mortgages on homes up to £600,000
Buyers will soon be able to put just 5% towards a £600,000 house thanks to a new government scheme.
The government will introduce a new scheme that will allow individuals to put down just a five per cent deposit on homes valued up to £600,000.
From April, the government will introduce a the scheme that will provide a guarantee to lenders across the UK that offer mortgages to people with a deposit of five per cent on homes with a value of up to £600,000.
When the Chancellor announced the policy, he said he wanted to “turn Generation Rent into Generation Buy”.