With more than two million mortgage holidays granted since the scheme came into effect in March, the announcement earlier this week by the Chancellor that the mortgage holiday scheme will now continue for a further three months, was a welcome one.
Mortgages
Three in five first-time buyers depend on the bank of mum and dad in order to get onto the property ladder, according to research by Just Group. In the last five years, 61 per cent of FTBs relied on financial help from relatives in order to purchase a property. In comparison, just 20 per cent of FTBs relied on financial assistance from relatives 30 years ago.
