Autumn Statement: 95% Mortgage Guarantee Scheme has been extended
As part of their Autumn Statement, the Government announced that the 95% Mortgage Guarantee Scheme has been extended until the end of June 2025.
In the full Autumn Statement document, the Government announced that it "will extend the scheme for an additional 18 months until the end of June 2025 to continue helping prospective borrowers with smaller deposits buy a home".
The scheme incentivises lenders to help both first-time buyers and current homeowners to purchase properties up to £600,000 with a 5% deposit. It can be used for mortgages on both new build and existing homes by first-time buyers, home movers and those remortgaging.
There's also more positive news on the horizon. Several major UK lenders have continued to announce further rate reductions, offering a well awaited glimmer of hope for prospective homebuyers or homeowners looking to remortgage.
We are here to answer any questions and to support you to achieve your mortgage goals.
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