To ask the Chancellor of the Exchequer, what discussions he has had with banks in Northern Ireland on the rollout of 95 per cent loan to value mortgages announced in Budget 2021.
11 March 2021
First time buyers and homemovers will benefit from a new mortgage guarantee scheme, which will increase the availability of 95% loan to value (LTV) mortgage products across the UK, helping borrowers with small deposits into home ownership.
The scheme is open to any regulated residential mortgage lender in the UK, including lenders based in Northern Ireland. The Government is open to discussions with any lender interested in joining the scheme.
The 2013 Help to Buy: Mortgage guarantee scheme supported 2,660 mortgage completions in Northern Ireland, with the country’s share of mortgage completions under the scheme being higher than its share of overall UK mortgage lending during the same period.