5% mortgage deposits for First Time Buyers
Are you 'generation buy'?
Boris Johnson has promised to create 2 million more owner-occupiers by introducing 5 per cent mortgage deposits for first-time buyers to transform ‘generation rent’ into ‘generation buy’.
The pledge was one of a series of promises in the prime minister’s speech to the annual Conservative conference today.
In a bid to “fix our broken housing market” not only by building more homes but by making mortgages more affordable, the PM said the policy would give many more people the chance of home ownership and that it could create 2 million more owner-occupiers in “the biggest expansion of home ownership since the 1980s”.