New scheme to help first time buyers

The video discusses the challenges in the mortgage market, highlighting the end of high-percentage mortgages and the difficulty of saving for deposits. It introduces a government-backed scheme aimed at helping 100,000 prospective homeowners by offering 95% mortgages for new builds, with the government and builders sharing the risk. The scheme's success depends on competitive interest rates, which are yet to be disclosed. Critics argue it may not be effective unless cheaper than existing low-deposit deals, and it could reduce the number of buyers for existing properties.

What has changed regarding the availability of 100% and 120% mortgages?

What is the purpose of the new buyer guarantee mentioned in the text?

How do banks perceive the risk of 95% mortgages according to the text?

What do critics say about the new mortgage scheme?

What potential impact could the new scheme have on property buyers?