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Mortgages still in lockdown despite stamp-duty holiday

July 19, 2020 at 09:00AM

Low-deposit home loans are coming back … but choices are limited and lenders are applying new terms and conditions

These are difficult times for anyone who wants to buy a home. Despite the government’s attempt to reinvigorate the market with a temporary stamp-duty holiday on properties costing up to £500,000 in England and Northern Ireland, unless you have a large deposit you could face a struggle.

During the crisis lenders have pulled mortgages, with those for borrowers with small deposits disappearing fastest. Some of the big banks and building societies have started to return to the market – last week saw 90% deals launched by Coventry building society and Metro Bank, and, from Monday, Nationwide building society will also be offering them.

Continue reading… via Banking | The Guardian

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