In an incredibly crowded field, the proposal to introduce 99% mortgages has to be one of the very worst policies of any government ever. The plan is to allow people to be granted a mortgage by paying a deposit of 1%. The logic (and I use that word loosely) behind the proposal is that this will make it easier for young people to own a home and get on the housing ladder.
While it is true that many young people do struggle to save enough money for a deposit due to the cost of living crisis, 99% mortgages would be an absolute disaster for the economy.
