New UK mortgage scheme launches

The new government-backed mortgage scheme has officially launched, with Lloyds, Santander, Barclays, HSBC UK and NatWest among the first to launch under the scheme. Housing Secretary Robert Jenrick commented: “For too many people, no matter how hard they work, home ownership can seem out of reach. One of the biggest divides in our country has been between those who can afford their own home and those who cannot.” He went on: “The new mortgage guarantee scheme which comes into effect today will give providers the confidence to lend and help families and young people get on the property ladder without the prohibitive burden of a large deposit.” Michelle Andrews, HSBC UK’s head of buying a home added: “After such a turbulent year it is great that this scheme will make a real difference in enabling first-time buyers who didn’t think they would have a chance of getting a mortgage and home movers to get the keys to their new home” .

Daily Mail (19/04/2021) Evening Standard (19/04/2021)