Finance

Pension pots may be used for home deposits under new proposal – pros and cons weighed up

“There’s a considerable undersupply of high-quality rental homes in this country and all indicators point to more people renting and for longer, underlining the need to deliver more rental housing.”

Recently, Boris Johnson also hinted at drastic changes that could be made for the property and mortgage markets which will specifically benefit first time buyers.

The Prime Minister recently vowed to get first time buyers onto the ladder, as he detailed in the following Tory conference speech: “We need now to take forward one of the key proposals of our manifesto of 2019: giving young, first-time buyers the chance to take out a long-term, fixed-rate mortgage of up to 95 percent of the value of the home – vastly reducing the size of the deposit.

“We believe that this policy could create two million more owner-occupiers – the biggest expansion of home ownership since the 1980s.



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