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Housing
Mr Sunak announced a mortgage guarantee scheme which is designed to help home buyers purchase properties worth up to £600,000 with a deposit of just five percent.
The Government will underwrite the remaining 95 percent.
Speaking from the House of Commons, he said: I’m pleased to say that several of the country’s largest lenders including Lloyds, NatWest, Santander, Barclays and HSBC will be offering these 95% mortgages from next month, and I know more, including Virgin Money will follow shortly after. A policy that gives people who can’t afford a big deposit the chance to buy their own home.
In hopefully the last Budget of the pandemic, Sunak pledged more support for the self-employed, introduced a new loan scheme and promised more money for culture.