Os­borne boosts prop­erty mar­ket

Yorkshire Post - Property - - PROPERTY -

CHAN­CEL­LOR Ge­orge Os­borne this week con­firmed plans to un­der­write 95 per cent mort­gages, which could ben­e­fit 100,000 buy­ers and to give up to 50 per cent dis­count for so­cial tenants who ex­er­cise a right to buy.

The mort­gages will only be avail­able on new-build prop­er­ties. Sa­man­tha Baden, of Fin­daprop­erty.com, says: “The mort­gage in­dem­nity scheme will bring wel­come re­lief to 100,000 peo­ple and help first-time buy­ers get a foot on to the prop­erty lad­der, as will the 50 per cent dis­count for so­cial tenants want­ing to buy their own home. All home­own­ers should ben­e­fit from £30bn for new in­fra­struc­ture projects.”

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