{"id":1205,"date":"2021-08-04T09:15:03","date_gmt":"2021-08-04T08:15:03","guid":{"rendered":"https:\/\/new.contentdeployment.co.uk\/tomd\/?p=1205"},"modified":"2021-08-04T09:15:03","modified_gmt":"2021-08-04T08:15:03","slug":"lenders-reassured-by-mortgage-guarantee-scheme","status":"publish","type":"post","link":"https:\/\/new.contentdeployment.co.uk\/tomd\/2021\/08\/04\/lenders-reassured-by-mortgage-guarantee-scheme\/","title":{"rendered":"Lenders reassured by mortgage guarantee scheme"},"content":{"rendered":"
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The government\u2019s mortgage\nguarantee scheme, which launched in April 2021, is encouraging lenders to offer\nmortgage finance to buyers with smaller deposits. It has been welcome news for\nprospective home buyers.<\/strong><\/p>\n<\/div>\n\n

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The scheme works as follows. The\ngovernment offers lenders a \u2018guarantee\u2019 on 95% LTV mortgages (i.e. those worth\n95% of the property value, with a 5% deposit required from the buyer). The\nguarantee applies to the portion of the loan over 80%, with the government\ncompensating the lender for a portion of the net losses suffered in the event\nof repossession.<\/p>\n<\/div>\n\n

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To be eligible, you must:<\/strong><\/p>\n<\/div>\n\n

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\u2022             Be\na first-time buyer or home mover<\/p>\n<\/div>\n\n

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\u2022             Be\nbuying a property to live in yourself<\/p>\n<\/div>\n\n

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\u2022             Pass\nall normal affordability checks<\/p>\n<\/div>\n\n

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\u2022             Be\noffered a mortgage between 91% and 95% LTV.<\/p>\n<\/div>\n\n

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Get your foot on the ladder <\/strong><\/p>\n<\/div>\n\n

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Reassured by the guarantee, many\nhigh street lenders have now launched 95% mortgage deals. So, whether you\u2019ve\nhad to put your property dreams on hold during the pandemic or are just\nstarting out on your homeownership journey, get in touch and we can assist you\nin getting the most suitable mortgage for your needs.<\/p>\n<\/div>\n\n

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The scheme is due to end on\n31 December 2022, subject to review.<\/em><\/strong><\/p>\n<\/div>\n\n

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As a mortgage is secured\nagainst your home or property, it could be repossessed if you do not keep up\nmortgage repayments. You may have to pay an early repayment charge to your\nexisting lender if you remortgage.<\/em><\/strong><\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

The government\u2019s mortgage guarantee scheme, which launched in April 2021, is encouraging lenders to offer mortgage finance to buyers with smaller deposits. It has been welcome news for prospective home buyers. The scheme works as follows. The government offers lenders a \u2018guarantee\u2019 on 95% LTV mortgages (i.e. those worth 95% of the property value, with […]<\/p>\n","protected":false},"author":12,"featured_media":1206,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,91],"tags":[],"hd_content_source":[],"_links":{"self":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/1205"}],"collection":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/comments?post=1205"}],"version-history":[{"count":1,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/1205\/revisions"}],"predecessor-version":[{"id":1207,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/1205\/revisions\/1207"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media\/1206"}],"wp:attachment":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media?parent=1205"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/categories?post=1205"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/tags?post=1205"},{"taxonomy":"hd_content_source","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/hd_content_source?post=1205"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}