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Guidance

Help to Buy: mortgage guarantee scheme rules

Details of the rules for lenders offering the Help to Buy: mortgage guarantee scheme.

Updates to this page

From:
HM Treasury
Published:
8 October 2013
Last updated:
17 November 2017
Show all updates

  1. Updated Help to Buy: mortgage guarantee scheme rules and Help to Buy: home purchase plan guarantee scheme rules

  2. Updated: Mortgage guarantee scheme rules and Mortgage guarantee scheme rules Home Purchase Plans

  3. Typo corrected in PDF for Mortgage Guarantee scheme rules. Correction to Rule 29A to replace ‘Home Purchase Provider’ with ‘Lender’.

  4. PDFs attached amended as of rule change 24 July

  5. Rules updated to reflect an update to Schedule 3 that will come into effect on 8 April 2015.

  6. Scheme rules updated to reflect the introduction of a Loan-To-Income (LTI) limit on mortgage lending by the Bank of England and clarify restrictions on the use of Mortgage Indemnity Guarantees.

  7. Help to Buy: home purchase plan guarantee scheme rules published

  8. updated rules

  9. Included a link to PRA statement on the regulatory treatment of retail residential mortgage loans under the Help to Buy Guarantee.

  10. First published.

Documents

Help to Buy: mortgage guarantee scheme rules

PDF, 459 KB, 68 pages

Help to Buy: deed of guarantee

PDF, 1.36 MB, 10 pages

Help to Buy: home purchase plan guarantee scheme rules

PDF, 469 KB, 70 pages

Details

Help to Buy: mortgage guarantee scheme rules

The document explains:

  • the scheme’s eligibility criteria for mortgage loans
  • information lenders must provide to the Treasury
  • audit requirements on lenders

Deed of Guarantee

The Deed of Guarantee is an agreement between the Treasury and lenders confirming the lenders participation in the Help to Buy: mortgage guarantee scheme and their commitment to comply with the scheme rules.

Home Purchase Plans

The Help to Buy: mortgage guarantee scheme can now also be used by providers of Home Purchase Plans.

The amended version of the scheme rules take into account the different structure of a home purchase plan.

Regulation of residential mortgage loans

The Prudential Regulation Authority (PRA) has published details of how retail residential mortgage loans will be regulated under the Help to Buy: mortgage guarantee scheme.

Find out more information about Help to Buy: mortgage guarantee, including how to apply.

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