Don't miss a thing by getting the latest from the Manchester Evening News sent direct to your inbox Rishi Sunak announced a new mortgage scheme to help people get on the property ladder.
Unveiled during the 2021 Budget, the Government scheme encourages lenders to offer mortgages to potential homebuyers with a five per cent deposit.
It launched on April 1, and is scheduled to run until December 31, 2022, but it could be extended. Both first-time buyers and current homeowners are eligible for the scheme, available to buyers purchasing a property under £600,000.
And the UK’s top five banks have announced their support of the initiative. But can you afford your first home with one? And how much would you need to have saved up to buy a property
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