95% mortgages coming back?

The 1-minute read to get the money news you need with expert adviser commentary.

Mortgage guarantee

A new scheme to help people buy a home with a 5% deposit is set to be announced in Rishi Sunak’s budget on Wednesday. Under this scheme, the government will incentivise lenders to offer more 95% mortgage deals. Low-deposit mortgages have all but disappeared in the past year - there were just 5 on the market at the start of February. The government is hoping to bring them back.

£1.65 billion for jabs

Rishi will also announce £1.65 billion of extra cash to boost the vaccine rollout. The government wants to make sure it hits its target of offering a first dose to every adult before the end of July. 1 in 3 have had the first jab so far - the chancellor wants this to continue so that he can crack on with reopening the economy as soon as possible.

Online shopping sets new record

Supermarkets set a new record for online grocery sales in January, doing 16% of business online. Supermarkets have been the only winners from lockdown restrictions, with the stay-at-home order pushing people’s grocery bills up. Shoppers spent £1bn more at supermarkets in total, compared with January 2020.

Finance pay gap

Female directors in top financial services firms are paid 66% less than their male counterparts. Women are more likely to occupy non-executive director roles, which are less hands-on than executive positions. The research by law firm Fox & Partners suggests firms have been slow to recruit women to top boardroom roles.