Details of the rules for lenders offering the Help to Buy: mortgage guarantee scheme.
PDF, 459KB, 68 pages
PDF, 1.36MB, 10 pages
PDF, 469KB, 70 pages
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.
Published: 8 October 2013
Updated: 17 November 2017
- Updated Help to Buy: mortgage guarantee scheme rules and Help to Buy: home purchase plan guarantee scheme rules
- Updated: Mortgage guarantee scheme rules and Mortgage guarantee scheme rules Home Purchase Plans
- Typo corrected in PDF for Mortgage Guarantee scheme rules. Correction to Rule 29A to replace ‘Home Purchase Provider’ with ‘Lender’.
- PDFs attached amended as of rule change 24 July
- Rules updated to reflect an update to Schedule 3 that will come into effect on 8 April 2015.
- 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.
- Help to Buy: home purchase plan guarantee scheme rules published
- updated rules
- Included a link to PRA statement on the regulatory treatment of retail residential mortgage loans under the Help to Buy Guarantee.
- First published.