Following newspaper headlines over the weekend, the government has confirmed that it will be offering a mortgage guarantee scheme.
The mortgage guarantee scheme is designed to encourage lenders to lend mortgages of up to 95% loan to value (LTV).
Virgin Money said it would be an active participant in the Help to Buy Guarantee Scheme. In a statement, it said: “We know how important it is that first time buyers get the right support and we look forward to launching Virgin Money Help to Buy mortgages to support this segment of the mortgage market.”
The Chancellor, Rishi Sunak, has confirmed the extension of the Stamp Duty Holiday until 30 June.
The scheme was due to come to an end on 31 March but now there will be a tapered extension until 30 September.