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Rishi Sunak is grilled at a post-Budget press conference (Image: GETTY)
“If they cannot pay and dump the house back on the bank, they don’t have the loan follow them as it would in many countries.”
However, not everybody was a winner, Mr Lyddon warned.
The Mortgage Guarantee of 95 percent of Loan-to-Value (LTV) meant the State would guarantee to private lenders the repayment of the entire loan and interest.
Budget 2021 in summary (Image: Express)
He explained: “If the price goes to 130 percent of the initial LTV, the buyer gets the entire 30 percent.
“If the LTV goes to 70 percent, the buyer can walk away losing their five percent ....

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