Levenshulme and Burnage Property News
New 95% mortgage scheme launched
First-time buyers and current homeowners in England will be helped to secure a mortgage with just a 5% deposit under the new government-backed mortgage scheme launched this week.
First announced in the Budget, the scheme will be available for the purchase of new and re-sale homes up to the value of £600,000. Buy-to-Let and second home purchases are excluded.
Available until December 2022 products are now available from several lenders on the high street, however not all are offering products for new-build purchases.
The government guarantee will apply down to 80% of the purchase value and will be valid for up to 7 years after the mortgage commences. Source: Dataloft, UKHPI, MHCLG
Leave a comment
About The Blog
This Blog looks at what is happening in Manchester, the property market, events and community news along with investment ideas and tips for those loosing to invest in the area.
Tom Simper - Editor
Manchester is one of the fastest growing markets in the country. If you need any assistance buying, selling or letting properties in the area we have over 30 years of experience and local knowledge to help.
T: 0161 441 0563
E: [email protected]