Landlord Rent Guarantee Insurance | BPF: Budget is good news for the UK property market
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This is the result of a £130 billion mortgage guarantee scheme
This has been the “missing piece†in an effective housing strategy Landlord Rent Guarantee Insurance
The recent Budget has heralded good news for the property market in the UK, according to the British Property Federation (BPF).
Earlier this week (March 20th), Chancellor of the Exchequer George Osborne revealed changes to the Budget, revealing the government plans to offer a £130 billion loan guarantee to increase the number of high loan-to-value mortgages available.
Chief Executive of the BPF Liz Peace said: “There’s more good than bad for the property industry in this Budget.â€Landlord Rent Guarantee Insurance
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“For too long … the size of deposit needed to get on the housing ladder has proved prohibitive and has been the missing piece in a coherent housing strategy, and it’s good to see the government move to remedy this,†she stated.
The government also launched the Help to Buy scheme, which will enable homebuyers to access an equity loan worth up to 20% of the value of the new-build property they want to buy, which they will have to pay off when they sell the home and is interest-free for the first five years.
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