As anticipation builds for Chancellor Jeremy Hunt’s Autumn Statement on November 22, the government is reportedly weighing the extension of its mortgage guarantee scheme to support first-time homebuyers. Sources suggest the Treasury is considering prolonging the scheme, introduced in March 2021 by former Chancellor Rishi Sunak, for an additional year. This initiative facilitates mortgage access for individuals with a 5% deposit.

Amid recent political shifts marked by the Tories’ loss of two by-elections to Labour, the potential extension aims to address housing challenges and bolster the property market. The Treasury, however, declined to comment on the speculated move.

Since its inception, the scheme has encouraged lenders to provide mortgages to those with smaller deposits. However, the interest rate has climbed from a historic low to the current 5.25% since December, aligning with the Bank of England’s efforts to curb inflation.

Airbus Secures 1.2 Billion Euro Contracts for A330 MRTTs

On Monday, Airbus announced signing contracts valued at 1.2 billion euros with France’s Directorate General of Armaments and Directorate of Aeronautic Maintenance. The deals are for capability enhancement and in-service support of France’s A330 MRTTs, the world’s largest plane-maker revealed.

Volkswagen Shares Dip as Profit Margin Outlook is Trimmed

Volkswagen shares experienced a more than 3% decline on Monday, reaching their lowest point since April 2020. The dip follows the German automaker’s adjustment of its profit margin outlook for the current year, citing negative effects from raw materials hedges. Despite the reduced profit margin forecast (7.0-7.3%, down from 7.5-8.5%), Volkswagen maintained its outlook for deliveries and sales.

Deutsche Bank noted the potential impact on consensus estimates and recognised the company-specific nature of the warning.