Saturday, February 27, 2021

More Money for Houses

Sunak's budget expected to offer first-time buyers mortgage guarantee

The government have decided to provide incentives to mortgage lenders to offer 95% mortgages for first-time buyers. There don't seem to be many details. I expect the incentive will be UK taxpayers underwriting a share of the loan and hence share of risk if the borrower defaults. at a time of significantly rising national debt, I find this policy questionable.

Posted by Quiet Guy @ 11:24 PM 1 Comments

Thursday, February 25, 2021

one in 10 owner-occupiers do not have enough savings to cover even a single month mortgage payments

770,000 households could see their homes repossessed

About 770,000 homeowners are vulnerable to repossession during the pandemic if they have suffered a loss if income, a new report revealed, calling on more government support for those at risk of eviction. Meanwhile, renters may be struggling as well. Last week, a coalition of landlords, housing groups and charities has warned that the government needs to do more to support renters and avoid them "being scarred" by debts, otherwise more will lose their homes in the coming months, with the risk of an increase in homelessness.

Posted by deepak @ 12:31 PM 1 Comments