As anticipation builds for Chancellor Jeremy Hunt’s Autumn Statement on November 22, the government is reportedly weighing the extension of its mortgage guarantee scheme to support first-time homebuyers. Sources suggest the Treasury is considering prolonging the scheme, introduced in March 2021 by former Chancellor Rishi Sunak, for an additional year. This initiative facilitates mortgage access for individuals with a 5% deposit.
Amid recent political shifts marked by the Tories’ loss of two by-elections to Labour, the potential extension aims to address housing challenges and bolster the property market. The Treasury, however, declined to comment on the speculated move.
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