Overview

• The mortgage guarantee scheme, launched in April 2021 to help buyers secure a home with a 5% deposit, closes to new applications on June 30, 2025.
• By December 2024 the scheme had supported over 53,000 home purchases with a total mortgage value of £10.7 billion.
• Ministers announced in February plans for a new permanent mortgage guarantee scheme but have not yet published eligibility rules or a launch date.
• Several lenders have stepped in with 100% mortgages and sub-5% deposit products outside the government scheme.
• First-time buyers continue to have access to other government programmes including First Homes, Shared Ownership and Lifetime ISAs.