‘Generation buy’: Boris Johnson signals relaxation of mortgage rules to allow first-time buyers onto the housing ladder

Essex Home Finance
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Regulations introduced in the wake of the 2008 crash to take risk out of the financial system could be reversed to help young people onto the housing ladder, prime minister Boris Johnson has indicated.

Mr Johnson has asked ministers to work up plans to allow more mortgages to be offered with a 5 per cent deposit, to help would-be homeowners who are currently locked out of the market by the demand for deposits of 15 or 20 per cent of the property’s value.

He told the Daily Telegraph that he wanted to create a “Generation Buy” of young people enabled to engage in the world of capitalism by investing in their own home.

Taken from an article in The Independent 3rd October 2020

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Address : 8 Kingsdale Business Centre, Regina Road, Chelsmford, Essex, CM1 1PE

Essex Home Finance Ltd is an Appointed Representative of Mortgage Intelligence Ltd which is authorised and regulated by the Financial Conduct Authority under number 305330 in respect of mortgage, insurance and consumer credit mediation activities only.

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