Stamp duty extended & 95% mortgages confirmed!
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Even better news for the property market!
We are so pleased to see that the UK Government is offering more support for first-time buyers by confirming the new mortgage guarantee scheme, encouraging lenders to offer 95% mortgages. This means first-time buyers will get a ‘government guarantee’ on mortgages with a deposit of 5%.
With regards to stamp duty, Chancellor Rish Sunak has announced that the up-to £500,000 ‘nil-rate band’ for stamp duty will finish at the end of June, extending it by three months and then phasing it out until September.