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Rishi Sunak set to announce 5% deposit mortgage scheme to help first-time buyers

“I want generation rent to become generation buy”

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Number 10/Flickr & Bill Boaden/Geograph

Chancellor Rishi Sunak is set to announce a 5% deposit scheme to help first-time buyers get on the property ladder. 

Sunak has revealed plans to incentivise lenders to provide mortgages to first-time buyers and current homeowners with just 5% deposits on properties worth up to £600,000.

He is set to provide details on how the government will offer lenders the guarantee they require to provide mortgages covering the remaining 95% this Wednesday.

Due to the economic impacts of the coronavirus pandemic low-deposit mortgages have ‘virtually disappeared’ explains The Treasury.

RishiSunak/Twitter

Prime Minister Boris Johnson said: “I want generation rent to become generation buy and these 95% mortgage guarantees help to deliver this promise.

“Young people shouldn’t feel excluded from the chance of owning their own home and now it will be easier than ever to get onto the property ladder.”

The scheme is set to be subject to the usual affordability checks and will be available from April. 

It’s based on David Cameron and George Osborne’s 2013 Help to Buy scheme that ended in June 2017. The scheme reportedly helped over 100,000 households but concerns were raised that it artificially inflated prices and housebuilder’s profits.

Shadow Housing Secretary Thangam Debbonaire raised concerns regarding the plans saying: “What young people need to get on is the secure future that comes with a decent job and genuinely affordable new houses to be built for them to make homes of, not going back to the days of sky-high mortgages.”

The Chancellor warns he is set to ‘level with people about the challenge’ and the damages of the pandemic spending.

He said: “We went big, we went early, but there is more to come and there will be more to come in the Budget. But there is a challenge and I want to level with people about the challenge.”

The government is reportedly braced for the possibility of rebellion from Tory MPs over tax rises. One member of the Northern Research Group Carlisle MP John Stevenson, suggested the Chancellor should wait until autumn before winding up support packages.

Speaking on BBC’s Radio 4 Today programme he said: “We’re not through the pandemic yet, we’ve still got a few months to go, so we want to see continuing support and we’ll probably have a much better idea of where the economy is come the autumn.

“As soon as we can get back to that levelling-up agenda which we were all elected on in 2019, we believe that in the north we have a major contribution to make to the recovery.”

Bill Boaden/Geograph

However, former Chancellor Lord Ken Clarke said Mr Sunak ‘must look at’ raising such things as VAT, national insurance and income tax. 

Lord Clarke told Today: “Sensible people know in their bones that all this emergency government spending is going to have to be paid for and is going to be a burden on them.

“The manifesto you refer to was written by a couple of apparatchiks in the office halfway through the campaign.”

He said it would be ‘quite sensible’ to look at raising corporation tax with it being at ‘quite unnaturally low levels’.

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Mount Snowdon has officially changed its name following a petition

The petition got 5,000 signatures

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Raintheone / Wikimedia & George Hodan / Public Domain Pictures

Mount Snowdon has officially had a name change, following a petition which garnered 5,000 signatures.

A county councillor from Gwynedd brought forward a motion which encouraged the local authority to drop the English name of both Snowdon and Snowdonia, leading to the petition.

Councillor John Pughe Roberts said the reason for implementing the motion was ‘all down to respect’ for both Wales and the Welsh language.

Caff55 / PxHere

The petition urged the National Park to formally use the Welsh names Eryri for Snowdonia and Yr Wyddfa for Snowdon.

And now, the Snowdonia National Park Authority will use both Welsh names, rather than the English versions.

Officials at the National Park voted in favour of the move earlier this month, saying it was ‘a mark of respect for our cultural heritage’.

Naomi Jones, head of cultural heritage at the Snowdonia National Park Authority, said: ”Many public bodies across Wales have moved to use both the Welsh and English names, or the Welsh name only, when referring to Yr Wyddfa and Eryri, as have many of the mainstream English-language press and filming companies.

“This is very encouraging, and gives us confidence that this change in the Authority’s approach will be accepted for the benefit of the Welsh language and as a mark of respect to our cultural heritage.

“We have historic names in both languages, but we are eager to consider the message we wish to convey about place names, and the role they have to play in our current cultural heritage by promoting the Welsh language as one of the National Park’s special qualities.

“By referring to our most renowned landmarks by their Welsh names we give people from all over the world the opportunity to engage with the Welsh language and its rich culture.”

Raintheone / Wikimedia

However, the National Park will still legally have to use both the Welsh and English names in any official documentation.

Snowdon is one of the most well-known landmarks in the UK, and stands at 3,560ft – making it the highest mountain in Wales.

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Man arrested following three attempted kidnappings of schoolgirls

A 33-year-old was arrested.

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Greater Manchester Police

Police have arrested a man following their release of CCTV footage featuring a car they believe was used in three attempted kidnappings around Salford.

A man driving the vehicle reportedly attempted to force a 15-year-old girl into the car at a bus stop in Monton on November 21st.

Detectives also think the same man ‘possibly’ tried to abduct another girl earlier that same day, as well as a third teenager five days previous.

Now police have confirmed that a 33-year-old man was arrested by officers today, Monday November 28th, on suspicion of three counts of attempted kidnap.

According to Greater Manchester Police, the victims have been left ‘extremely shaken up’.

Officers identified the vehicle in the footage as a black Vauxhall Astra with a silver cover on the driver’s side wing mirror.

Greater Manchester Police

Detective Inspector Chris Horsfield, of GMP’s Salford CID, said: “Although we have made this arrest, we are still very much looking to speak to anyone who may have information or dashcam footage, which could help us to establish the circumstances.

“We understand that the local community will be concerned but we are doing all we can to solve this investigation.

“I’d urge anyone who knows anything at all to please get in touch as soon as possible. In particular we are interested in the movements of a Black Vauxhall Astra 08 plate with a silver driver’s wing mirror cover; the passenger side is black.”

Police are still keen to speak to anyone with dashcam footage from the following times:

  • Liverpool Street, Salford, between Fitzwarren Street and Albion Way on November 16th, between 7:45-8:20pm
  • Mossfield Road and Ackworth Road, Swinton, on November 21st, between 8-9am
  • Rocky Lane, Monton Green and Monton High Street on November 21st, between 6-7pm

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Police believe this car was used in three attempted kidnappings of schoolgirls

Do you recognise the vehicle?

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Greater Manchester Police

Police have released CCTV footage of a car they believe was used in three attempted kidnappings around Salford.

A man driving the vehicle attempted to force a 15-year-old girl into the car at a bus stop in Monton on November 21st.

Detectives also think the same man tried to abduct another girl earlier that same day, as well as a third teenager five days previous.

According to Greater Manchester Police, the victims have been left ‘extremely shaken up’.

Detective Inspector Chris Horsfield said: “It’s very important that we get this man identified and off the streets as soon as possible.”

Police have identified the vehicle in the footage as a black Vauxhall Astra with a silver cover on the driver’s side wing mirror.

Greater Manchester Police

Anyone with dashcam footage from the following times, officers are keen to speak to you:

  • Liverpool Street, Salford, between Fitzwarren Street and Albion Way on November 16th, between 7:45-8:20pm

  • Mossfield Road and Ackworth Road, Swinton, on November 21st, between 8-9am

  • Rocky Lane, Monton Green and Monton High Street on November 21st, between 6-7pm

 

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