Today the Government has launched it’s new 95% backed mortgages, helping home ownership become a reality for many throughout the Bolsover constituency.
For many, home ownership has been a pipe dream with the hardest part of getting onto the housing ladder saving the large sum of money needed for a deposit.
The new scheme allows banks to offer Government backed mortgages, increasing confidence in for lenders and meaning prospective home owners now only need to save a 5% deposit. This will mean potential home owners can more easily get their foot on the housing and make the dream of owning their own home a reality that much sooner.
Mark Fletcher welcomed the announcement from the Government:
“I’m really pleased that the 5% deposit scheme has finally launched following the Chancellors announcement in the budget last month.
Back in 2019 I campaigned to help get more people onto the housing ladder and help make the dream of home ownership a reality.
I’m delighted that the Government have launched this scheme, making it much easier for young people and first-time buyers to finally get their foot on the housing ladder.”
This new scheme follows a range of other initiatives all designed to lend a helping hand to first time buyers get onto the property ladder. Other Government schemes include the Help to Buy Government Equity Loan and the Help to Buy ISA.
