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10 March 2024
Chancellor Jeremy Hunt today laid out his Spring Budget. This comes after weeks of rumours around potential changes to stamp duty tax, and the possible launch of a 99% mortgage scheme.
However, while the speech made some announcements related to the housing market, they are measures that are likely to be relevant to only a small number of homebuyers and sellers. Interestingly there was no mention of mortgage rates.
Whilst a 99% mortgage scheme was reportedly considered, it appears to have been scrapped and then no replacement found. More innovation is needed to help first-time buyers with smaller deposits, and those who are struggling to borrow enough to get onto the ladder."