Article summary
The Ministry of Housing, Communities and Local Government (MHCLG) has announced plans to launch a new, permanent, and comprehensive Mortgage Guarantee Scheme, aimed at increasing homeownership among first-time buyers. The new scheme will replace the existing scheme, which was set to expire this year, with further details to be announced in due course. It is intended to provide long-term assurance to lenders such as banks and building societies, enabling them to continue offering low-deposit mortgages.
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