"The Mortgage Guarantee Scheme, which ran from April 2021 until June 2025, allowed buyers to secure mortgages with deposits of less than 10%. By providing a government-backed guarantee to lenders, the scheme reduced the risk of lending and made it easier for households with moderate incomes to access mortgage finance, especially with rising mortgage rates. Since launch, the scheme has supported £11.5 billion in loans and £12.2 billion in property purchases, with a total guarantee value of £1.7 billion."
"The scheme was overwhelmingly used by first-time buyers, who accounted for 86% of completions, or 48,471 households. Homes purchased through the scheme tended to be smaller and more affordable, with a median value of £190,000, well below the UK average of £271,000. Terraced houses made up 35% of completions, semi-detached homes accounted for 30%, and flats or maisonettes made up 22%."
The Mortgage Guarantee Scheme ran from April 2021 until June 2025 and allowed buyers to secure mortgages with deposits under 10% by providing a government-backed guarantee to lenders. The guarantee reduced lending risk and helped households with moderate incomes access mortgage finance amid rising interest rates. The scheme supported £11.5 billion in loans and £12.2 billion in property purchases, with a total guarantee value of £1.7 billion. A total of 56,389 households completed purchases using the scheme, 86% were first-time buyers. Median purchase value was £190,000 and median household income £53,711, with terraced and semi-detached homes most common and particularly high uptake in Scotland, the North West and the South East of England.
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