Section: Home Ownership

New 95% mortgage scheme launches

Posted 19.04.21
GOV.UK: Further reading

A new government-backed mortgage scheme will help first time buyers or current homeowners secure a mortgage with just a 5% deposit.

First announced at the Budget, the scheme will help first time buyers or current homeowners secure a mortgage with just a 5% deposit to buy a house of up to £600,000.

The government will offer lenders the guarantee they need to provide mortgages that cover the other 95%, subject to the usual affordability checks.

The scheme is now available from lenders on high streets across the country, with Lloyds, Santander, Barclays, HSBC and NatWest launching mortgages under the scheme now and Virgin Money following next month.

New figures show that more than two-thirds of private renters (68%) and those living at home (72%) want to buy, with the majority saying the pandemic has made them more aware of the importance and benefits of home ownership.

*****

Return to this month's headlines

KeyFacts


Keep up-to-date with issues affecting the social and affordable housing sectors


News and views reported in summary format, with links for further reading


Recognisable sub-sections for easy access - now and at a future date


An essential free resource for anyone with a busy daily schedule


Edited by Mike Skilton



Enter your email address to receive our e-newsletters advising on updates to KeyFacts

We will not share your email address with others or use it for any other purpose


CLICK ON THE SECTIONS BELOW FOR ALL OF THIS MONTH'S NEWS POSTS

Reporting on April 2021

Site Sections

Bookmark and Share

Current Issue