The proposed extension to the Mortgage Guarantee Scheme could prove a good counter-cyclical policy in areas where house prices are relatively low. But the scheme has far less impact in London and the South where a much bigger deposit than 5% is needed to bridge the gap between what aspiring homeowners can borrow and current house prices. The Sunday Times has reported that the Government is considering extending the Mortgage Guarantee Scheme until end-2024.
The proposed extension to the Mortgage Guarantee Scheme could prove a good counter-cyclical policy in areas where house prices are relatively low. But the scheme has far less impact in London and the South where a much bigger deposit than 5% is needed to bridge the gap between what aspiring homeowners can borrow and current house prices. The Sunday Times has reported that the Government is considering extending the Mortgage Guarantee Scheme until end-2024. Read More
