Policy paper

The mortgage guarantee scheme

Provides background on why the government has introduced a mortgage guarantee scheme, and how it works. The scheme is open to new 95% mortgages until 30 June 2025, with participating lenders offering 95% mortgages under the government guarantee from 19 April 2021.

• From: HM Treasury
• Published: 3 March 2021
• Last updated: 23 November 2023 — See all updates

This was published under the 2019 to 2022 Johnson Conservative government

Documents

The mortgage guarantee scheme: outline

PDF, 255 KB, 13 pages

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Mortgage guarantee scheme rules

PDF, 515 KB, 54 pages

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Details

The government has announced a new mortgage guarantee scheme to support a new generation in realising the dream of home ownership. This will increase the availability of 95% Loan-to-value mortgage products, enabling more households to access mortgages without the need for prohibitively large deposits. The document’s first section introduces high loan to value mortgage lending and the role of the mortgage guarantee scheme, the second section gives an overview of trends in high loan to value lending and the third section outlines how the new mortgage guarantee scheme will work.

Published 3 March 2021

Last updated 23 November 2023 + show all updates

1. 23 November 2023

   Page updated to reflect extended deadline

2. 16 April 2021

   Mortgage Guarantee Scheme rules updated

3. 3 March 2021

   First published.