Canada has several major banks and many schedule II banks – but with rates and plans all over the map, it’s difficult to know where to bring your business. Our aim is to help you navigate Canada’s banking options to discover which one suits your needs best.
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Investing
The best GIC rates in Canada for 2023
Find the best GIC rates in Canada. Plus, everything you need to know about how they work.
Find the best rate
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UK government launches landmark program to help first-time home buyers
– canadianbusiness.com
LONDON – Britain’s government is launching a 12 billion-pound ($19 billion) program to help first-time homebuyers, a landmark plan that tries to offset banks’ reluctance to lend.
Under the plan, potential homebuyers will only need to put up 5 per cent of the home’s value, rather than the standard 20 per cent that most banks are demanding. The government will guarantee the remaining 15 per cent in the event of a default.
The government started this portion of the program Tuesday — earlier than planned — after the first phase, which offered government loans to help buyers of newly built homes make their down payments, proved very popular.
Critics suggest the program, called Help to Buy, will fuel a surge in the market, where prices are increasing even though the economy remains weak.
The post UK government launches landmark program to help first-time home buyers appeared first on Canadian Business.
Under the plan, potential homebuyers will only need to put up 5 per cent of the home’s value, rather than the standard 20 per cent that most banks are demanding. The government will guarantee the remaining 15 per cent in the event of a default.
The government started this portion of the program Tuesday — earlier than planned — after the first phase, which offered government loans to help buyers of newly built homes make their down payments, proved very popular.
Critics suggest the program, called Help to Buy, will fuel a surge in the market, where prices are increasing even though the economy remains weak.
The post UK government launches landmark program to help first-time home buyers appeared first on Canadian Business.
