Help For Families To Get A Foot On Housing Ladder

Homebuyers will be able to apply for Government-backed mortgages covering up to 95 per cent of a property’s cost from today.

- Macer Hall

High street banks and other lenders are taking part in a Treasury scheme to boost recovery from the pandemic.

Ministers say the move will help young families get on the housing ladder after years of facing unaffordable prices due to a squeeze on lending.

Housing Secretary Robert Jenrick said: “Together we can turn generation rent into generation buy.”

A survey commissioned by the Government today suggests a property market surge is looming as months of Covid lockdowns have increased the demand for home ownership.

Secure

Two-thirds of renters and nearly three-quarters of those living at home want to buy. Most say the pandemic has made them more aware of the benefits.