<p>The chancellor Rishi Sunak has confirmed an extension to the stamp duty holiday to the end of June in his Budget today (March 3).</p> <p>Sunak said the government would extend the holiday, due to end on March 31, with the nil rate band transitioning from the current £500,000 threshold after June 30 to £250,000 until the end of September before a return to the usual £125,000 rate band in October. </p> <p>The chancellor also announced an already trailed mortgage guarantee scheme, allowing lenders to offer 95% mortgages with a government guarantee. Sunak said that a number of large lenders would <span>offer the scheme from next month, </span>to help those with a deposit of 5%.</p> <p>This new policy would allow people “who cannot afford a big deposit” to buy their own home, “turning Generation Rent into Generation Buy”. </p>