Call us on 0800 1 777 333 to see how we can help

Mortgage Guarantee Scheme

The Mortgage Guarantee Scheme was announced by the UK Government on 03 March, as part of the 2021 budget. The scheme provides support for banking institutions to offer new 91% – 95% LTV mortgages. Mortgages issued under the scheme are backed by the UK Government.

Why My Mortgage Co?

The mortgage market is constantly changing, you might be wondering what options are available. Finding a lender who is under the scheme may be worth looking at. Our mortgage advisors have access to thousands of mortgages and can answer any questions you may have in regards to the Mortgage Guarantee Scheme.

We will listen to your situation and hand pick lenders to suit your requirements, offering expert advice making sure you get the very best mortgage offer.

Get in touch

The Mortgage Guarantee Scheme FAQ's

If you have any questions about the Mortgage Guarantee Scheme that are not listed below, please give one of our mortgage advisors a call on 0800 1 777 333 or drop us an email.

Am I Eligible?

The mortgage guarantee scheme is available to first-time buyers and home movers across the UK. You’ll need to be buying a property to live in yourself – second homes and buy-to-let properties are not permitted. Both new-build and existing properties priced up to £600,000 are eligible.

Do I Need A Good Credit Score To Be Accepted?

A lender will always look at your credit record as part of the mortgage application. They want to see how risky it might be to lend to you, by understanding if you have had any previous debt problems or adverse credit.

When a mortgage has a high Loan to Value mortgage lenders are willing to take less risks, but your credit score doesn’t have to be spotless. Each lender has its own criteria guiding whether or not you will be accepted and our mortgage adviser will be happy to assist you in assessing if you are eligible for a 5% deposit mortgage.

How Can A Mortgage Advisor Help Me?

If you want to buy a home and have a 5-9% deposit saved, the Mortgage Guarantee Scheme could be the boost you need. My Mortgage Company are here to help you achieve the dream of your new home.

We spend time getting to know you, your property goals and current circumstances. We’ll explore all the relevant lenders and their products, compare rates and fees and talk and guide you through the full process.
We can also explore other government Help to Buy initiatives to see if these could save you money and achieve your goals if you are unsuccessful in obtaining a 95% mortgage.

Speak to our mortgage adviser today about 5% deposit mortgages and the mortgage guarantee scheme.