A Telford mortgage adviser has welcomed the extension of the Mortgage Guarantee Scheme in the Autumn Statement.
The scheme supports the availability of 95% Loan-to-Value mortgage products and Nathan Blissett, principal mortgage adviser and founder at Dwello Mortgages in Telford, said:
“Even though it wasn’t highlighted in the Commons as one of the 110 Autumn Statement measures, we are very pleased to read that the Mortgage Guarantee Scheme will be extended beyond December, 31, 2023 which was when it was due to end.
“This scheme, which has already proved helpful to so many, will now run for a further 18 months to help prospective borrowers to get onto the property ladder.
“The 5 per cent deposit means more people will be able to access mortgage products which they may not have been able to access from January 1, 2024 if this scheme had not been extended.
“There are still challenges ahead in the property market but this is certainly good news for buyers. We look forward to helping more people to buy their first home in the coming months.”
Source: Shropshire Star