Adam Hosker is director of Bespoke Finance
The mortgage guarantee scheme will give confidence to lenders returning 91%-95% LTV. Enabling households to purchase new build or existing homes. Helping first-time-buyers and existing homeowners alike.
The government will fully guarantee losses from lenders up to 80% of the purchase value. Then partially guarantee losses above that, up to 95% of lenders costs for up to seven years.
Budget 21: Government should have revealed stamp duty plans sooner