The government will launch a 5% deposit Help to Buy mortgage guarantee scheme. It will be limited to properties worth up to £600,000, though it will not be restricted to first-time buyers or new builds – like the new version of the equity loan scheme. Lenders utilising the scheme will offer mortgages fixed for at least five years. Under the terms of the scheme, banks and building societies will be able to buy a government guarantee to compensate them for a portion of their losses in the event of a repossession. Read more on the Property Wire website.
https://www.propertywire.com/news/new-95-ltv-help-to-buy-scheme-to-launch/
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