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Boris Johnson promises 5% mortgage deposits for First Time Buyers in ‘generation buy’ scheme

The Prime Minister has announced plans for scheme he hopes will "turn generation rent into generation buy".

The Manc The Manc - 6th October 2020
BBC Politics

Boris Johnson has announced plans for a scheme in which he hopes will “turn generation rent into generation buy” through 5% mortgage deposits for first time buyers.

The Prime Minister made the announcement at the Conservative Party’s virtual conference today.

Mr Johnson reiterated his election manifesto promise to encourage a new market in long-term fixed-rate mortgages and indicated that the plan would help to create two million new homeowners in the UK, but did not offer significant information as to how this would be carried out.

In his speech, he said the Tory party needed to “fix our broken housing market” by working with leading experts to help young people who struggle with deposits get their foot on the property ladder.

But added that: “These reforms will take time and they are not enough on their own”.

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He went on to acknowledge that home ownership among young people had plummeted, and promised to change the planning system to allow for what he claims is the biggest expansion of home ownership since the 1980s.

The Prime Minister said: “We need now to take forward one of the key proposals of our manifesto of 2019: giving young, first-time buyers the chance to take out a long-term, fixed-rate mortgage of up to 95% of the value of the home – vastly reducing the size of the deposit and giving the chance of home ownership – and all the joy and pride that goes with it – to millions that feel excluded.

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“We believe that this policy could create two million more owner-occupiers – the biggest expansion of home ownership since the 1980s.

“We will help turn generation rent into generation buy.”

The Prime Minister also claimed in his speech that he would “transform the sclerotic planning system”, which would make it quicker and easier to build new homes.

Today’s announcement follows on from the 2019 Conservative Party manifesto which pledged to: “Encourage a new market in long-term fixed rate mortgages which slash the cost of deposits, opening up a secure path to home ownership for first-time buyers in all parts of the United Kingdom”.

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In response to the Prime Minister’s speech, Angela Rayner – Deputy Leader of the Labour Party – said: “The British people needed to hear the prime minister set out how he and his government will get a grip of the crisis.

“Instead we got the usual bluster and no plan for the months ahead.

“We end this Conservative conference as we started it: with a shambolic testing system, millions of jobs at risk and an incompetent government that has lost control of this virus and is holding Britain back.”

News

Manchester palaeontologist unearths bones of what may be the largest known marine reptile

Emily Sergeant Emily Sergeant

A Manchester-based palaeontologist has unearthed the bones of what may be the largest known marine reptile.

This new identification is a crucial part of a fascinating eight-year long discovery journey.

It all started when a seasoned fossil collector named Paul de la Salle found a giant jawbone on Lilstock Beach, near Bridgewater in Somerset, back in May 2016, and then father and daughter, Justin and Ruby Reynolds from Devon, found the first pieces of a second jawbone and another giant bone while searching for fossils on the beach at Blue Anchor, also in Somerset, in May 2020.

And now, a palaeontologist at the University of Manchester (UoM) Dr Dean Lomax, has identified the fossilised remains of the second gigantic jawbone that measures more than two metres long.

Experts have identified these bones as belonging to the jaws of a new species of enormous ichthyosaur – which is a type of prehistoric marine reptile – and astonishing estimations suggest the oceanic titan would have been more than 25-metres long.

Dr Lomax has been working together with Justin and Ruby Reynolds, along with Paul de la Salle and several family members, since the father-daughter duo first contacted them about their groundbreaking discovery in 2020.

A Manchester palaeontologist has unearthed bones of what may be the largest known marine reptile / Credit: UoM

“I was amazed by Justin and Ruby’s find,” Dr Lomax commented.

“In 2018, my team and Paul de la Salle studied and described Paul’s giant jawbone, and we had hoped that one day another would come to light.”

He explained that Justin and Ruby’s new specimen was “more complete and better preserved” than the first find, and that he “became very excited” at the chance to learn more following their discovery.

As mentioned, the Manchester-based research team, led by Dr Lomax, revealed that the jaw bones belong to a new species of giant ichthyosaur that would’ve been about the size of a blue whale, and they have called the new genus and species Ichthyotitan severnensis – which means ‘giant fish lizard of the Severn’.

The bones – which represent the very last of their kind – are around 202 million years old, and date back to the end of the Triassic Period in a time known as the Rhaetian.

During this time, the gigantic ichthyosaurs swam the seas while the dinosaurs walked on land.

The University of Manchester, where Dr Dean Lomax works as a palaeontologist / Credit: UoM

Ichthyotitan is not the world’s first giant ichthyosaur, but the discoveries by Paul, and Justin and Ruby, are said to be “unique among those known to science”, as they appear roughly 13 million years after their latest geologic relatives – including Shonisaurus sikanniensis from British Columbia in Canada, and Himalayasaurus tibetensis from Tibet in China.

Speaking on the confirmation of the bones’ identification this week, Dr Lomax said: “This research has been ongoing for almost eight years.

“It is quite remarkable to think that gigantic, blue whale-sized ichthyosaurs were swimming in the oceans around what was the UK during the Triassic Period.

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“These jawbones provide tantalising evidence that perhaps one day a complete skull or skeleton of one of these giants might be found.”

Featured Image – UoM

News

Northern Quarter favourite Pie and Ale has sadly closed down

Danny Jones Danny Jones Pie and Ale Manchester closed down

Beloved Northern Quarter eatery and pub Pie and Ale has sadly and quietly closed its doors this week in yet another gutting bit of news for the Manc hospitality sector.

Known for its legendary homemade pies, great selections of ales, craft beers and lagers, not to mention a great little pub when it comes to watching live sport, it’s long been considered an NQ institution.

Unfortunately, however, as confirmed by a sign posted in the window, Pie and Ale has now closed for business after more than a decade.

Safe to say, we’re absolutely gutted, as we’re sure everyone else is.

Credit: The Manc Eats

While no official announcement has been made on their social media as yet, which will no doubt receive love and sadness from its loyal following, the sign in the window simply reads: “Pie and Ale has unfortunately ceased trading. Apologies for any inconvenience.”

The local favourite which was always hailed for being great value for money – celebrated especially for its popular pie and a pint for under a tenner deal – also served up great nibbles and light bites as well as dessert specials.

Although the Lever Street spot previously shut down for a short spell back in 2018 due to what they labelled as “unforeseen circumstances” before reopening just two months later, this latest update looks pretty definitive.

Sister-site Bakerie also ceased trading back in April 2019, with husband and wife founders, Alyson Doocey and David Cook, admitting that all independents had been “feeling the squeeze”.

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While we have few other details at this stage, it does look like Pie and Ale has indeed closed down for the foreseeable future.

A mainstay on our list of the best pies in Manchester since day dot and just the latest in the list of losses in 2024 so far, they will be sorely missed.

We sincerely hope this is like last time and will keep our fingers crossed that we see the pie pros and expert pourers back in business at some point.

RIP to an NQ icon.

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Featured Images — The Manc Group

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