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David Cameron vows to ” get Britain building”
December 2011
Buyers of new homes will be able to to borrow up to 95% of their value as part of plans Cameron says will help get “Britain building again”.
The mortgage indemnity scheme, in which the government will underwrite part of the risk to lenders, could help up to 100,000 people in England. The proposal should enable lenders to provide mortgages of up to 95% to would be buyers – most of whom are expected to be first-time purchasers – supported by government guarantees.
The initiative is expected to start in July 2012.