Affordable Homes Plan for First Time Buyers

The government has announced plans to allow first-time buyers of new homes to borrow up to 95% of their value. An inability to save enough for a deposit has been highlighted as one of the key stumbling blocks for first time buyers looking to get on the property ladder. The government will underwrite part of the risk, in a bid to tackle the housing shortage and boost the numbers of first time buyers clerkenwell purchasing new build flats and houses.

95% mortgages will be offered to first time buyers in a plan that reportedly features hundreds of measures, including the ‘Get Britain Building Fund’ – an initiative that will see developers pitch for funding to implement projects that meet the fund’s criteria.