Are 99% mortgages the best way to help first-time buyers? Join The Independent Debate

Tory MPs have backed the radical plan that would gurantee mortgages requiring just 1 per cent deposits - but will this help or hinder the housing market?

Tory MPs largely welcomed the idea of a scheme to boost 99 per cent mortgages (Getty Images)

Radical plans to guarantee mortgages requiring just 1 per cent deposits have been backed by senior Conservatives.

The scheme to boost 99 per cent mortgages comes after The Independent first revealed the March Budget proposal aimed at first-time buyers.

Tory MPs have largely welcomed the idea - but do you think it would actually help first-time buyers? Or are you concerned about the impact 99% mortgages would have on the wider housing market?

Economists and housing experts warned that such a scheme – aimed at helping young people onto the property ladder – would create “massive risk” for taxpayers and would push up prices.

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