Boris Johnson announces 5% mortgage deposits for first-time owners to create ‘generation buy’

Boris Johnson has promised to create 2 million more owner-occupiers by introducing 5 per cent mortgage deposits for first-time buyers to transform “generation rent” into “generation buy”.

The pledge was one of a series of ambitious promises in the prime minister’s speech to the annual Conservative conference, also including a massive increase in wind power, one-to-one tuition in schools and reform of social care.