From 19th April, a new 95 per cent government-backed mortgage scheme will start; helping first-time buyers get their feet on the property ladder in an easy and affordable way.
For too many people, no matter how hard they work, home ownership can seem out of reach – one of the biggest divides in our country has been between those can afford their own home, and those who cannot.
That is why we the Government has launched a new 95 per cent mortgage scheme - allowing first time buyers or current homeowners to purchase a home with only a 5 per cent deposit on a house worth up to £600,000 – providing an affordable route to home ownership.
Alongside our other schemes to get people on the housing ladder - including Help to Buy, Shared Ownership and the First Homes Scheme - we are helping turn ‘Generation Rent’ into ‘Generation Buy' as we level up and build back better.
William Wragg MP said: "I know all too well the problems faced by those seeking to get on the property ladder with raising a deposit. I am pleased this scheme has been set up, and I am confident that local first time-buyers will be able to take advantage of this government-secured scheme."
William added: "Many will know that I have long championed a brownfield first policy on house building. Last week, the Conservative government announced a £6.6m fund allocation to build new homes on brownfield sites across Stockport. This is fantastic news, and will provide much needed starter homes across Stockport, as well as protecting local greenbelt."