New government scheme set to improve parent’s mortgage affordability

Jessica Nangle

August 31, 2017

Parents with young children looking to take a step on or up the property ladder could see a 17% increase in the amount they can borrow thanks to a new government scheme say Yorkshire Building Society.

From September, parents with children aged three and four years old could be eligible for 30-hours free childcare a week leading to a saving of £210.

Charles Mungroo, mortgage manager at Yorkshire Building Society, said: “The new government initiative is great news for parents’ ability to buy the home they want.

“The extra cash will really make a difference, particularly for those looking to move on to or up the property ladder.”

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