Mortgage Guarantee Scheme

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95% Mortgage Guarantee Scheme

For all home buyers

A new government-backed mortgage scheme has now been launched to help home buyers with a 5% deposit get on the housing ladder.

This new scheme is available to first time buyers and current homeowners, enabling them to secure a mortgage with a 5% deposit on a house up to the value of £600,000. This scheme is available to new builds and second hand properties.

How does it work?

Under this new scheme, the government guarantees the last proportion of the mortgage over 80%. Meaning on a 95% mortgage, the government guarantees the last 15%  of the mortgage meaning they will compensate your lender should the mortgage fall into arrears. This new scheme is open until December 2022.

Second homes or buy-to-lets are not available to this scheme. This is for a repayment mortgage only.

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