What Does this 2021 95% Mortgage Scheme Mean for UK Home Buyers?

If you have heard about there being a new mortgage scheme announced with the 2021 UK Budget and are wondering what it means for you, then you may feel quite excited by the details. This new government-backed mortgage scheme has been put into place to help first time home buyers or current homeowners secure a mortgage with only a 5% deposit! The release of this scheme was on the 19th of April and will be in place as a temporary measure until December 2022.

With home ownership demands immense increase since 2020, the government is trying to help the dream of owning a home a reality. Statistics show that over two-thirds of private renters and those living at home want to buy and are starting to save up to make that happen.

Owning your own home is an incredible personal and life achievement that hopefully many more will now be able to experience with this onset of this government-backed mortgage scheme.