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This government has introduced a mortgage guarantee scheme. The scheme is open to new 95% mortgages until 31 December 2022, with participating lenders offering 95% mortgages under the government guarantee from 19 April 2021.
The idea is to support a new generation in realising home ownership. The scheme will increase the availability of 95% Loan-to-value mortgage products, enabling more households to access mortgages without the need for large deposits.
See: The mortgage guarantee scheme - GOV.UK (www.gov.uk)
06 Feb 2024
Government borrowing fell to £7.8 billion in December 2023 giving Chancellor Jeremy Hunt more scope to make the tax cuts he has hinted at in the Spring Budget.
Tax cut promises may need to be scrapped as a result of the UK being in an 'unfortunate economic and fiscal bind', the Institute for Fiscal Studies (IFS) has warned.
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