Boris Johnson has just promised a new scheme, allowing first-time homebuyers to get on the property ladder with only 5% deposit. During this speech to the Annual Conservative Conference, the Prime Minister highlighted that nowadays a lot of young people cannot buy their first home not because they cannot afford the mortgage, but because they cannot afford the deposit. Therefore, the main objective of this scheme is to turn ‘’generation rent’’ into "generation buy" while providing young people with access to long-term fixed-rate 95% mortgages.
The PM also mentioned that it is necessary to fix ‘’our broken housing market’’. This plan aims to create two million new homeowners. Since the 1980s, this policy is the biggest expansion of homeownership.
Anthony Martin, CEO of Anthony Martin Estate Agents comments: “This is an extremely ambitious scheme and we are really excited about this expansion! 95% of mortgages will provide 20-30 years old people with opportunities to buy their own home so our clients' range will potentially become more diverse. We recently invested a lot in our interactive and engaging website along with online advertising and social media management. As far as we know, the young generation uses social media more actively so our current strategy perfectly aligns with the proposed plan!’’
Anthony Martin Estate Agents, who have been serving Kent and London for almost ten years have offices in Dartford, Swanscombe, Barnehurst, Bexley, Bexleyheath, Locksbottom, Meopham and Mayfair. Due to an increase in demand for properties outside of London, Anthony Martin Estate Agents has also recently opened an office on Hanover Square, Mayfair, to support those looking to relocate.