Articles
Budget confirms 95% LVT mortgage guarantee scheme
A new UK Government mortgage scheme will allow first-time buyers and home movers to purchase property up to the value of £600,000 with a 95% mortgage. The scheme aims to hoist first-time buyers with smaller saving pots onto the property ladder.
The 2021 Budget and the future UK economy
The UK economy contracted by 10% during the height of the COVID-19 pandemic, which is the greatest economic slump in the UK for over three centuries. However, the Office or Budget Responsibility (OBR) predicts the UK economy will bounce back to where it was pre-Covid by the middle of 2022. These predictions are promising, and the recovery is now six months ahead of initial estimations.
5 Brexit changes you need to know about
It’s finally over – kind of.
The UK and the EU have agreed to a deal and we can get on with our lives. But what will those lives look like and how will Brexit change the way we holiday, sell goods and migrate to other countries?
Discover the five big Brexit changes that you need to know about, right here.
New leasehold reform is a game-changer
The UK Government announced new leasehold legislation at the start of 2021, which will give leasehold home buyers a legal right to extend their lease for 990 years with zero ground rent. This change is tipped to be the largest UK property law reform in four decades.
Not only will these changes provide assurances for current leaseholders, but it would remove some of the bureaucratic barriers facing those who want to own a home but are worried or confused about entering into a leasehold agreement.
Are 95% mortgages coming back?
The new year brings some good news for first-time buyers who find themselves locked out of the housing market because they cannot pull together a large enough deposit. The government is looking to bring back affordable 95% mortgages to create two million more owner-occupiers.
Boris Johnson announced the move at the virtual Conservative Party conference back in October. "We will help turn Generation Rent into Generation Buy," he said. The prime minister was reiterating a key manifesto pledge from 2019.
