- Minimum deposit it supports
- 5%
- Maximum loan-to-value
- 95%
- Maximum property price
- £600,000
- Restricted to first-time buyers
- No, home movers too
- How long a guarantee lasts
- Up to 7 years
What it is
You don’t apply to a scheme here, you just ask a participating lender for a mortgage with a 5% deposit. The government guarantees the lender against losses on the riskiest slice of the loan, which is what persuades mainstream banks to offer 95% mortgages at all. It’s open to home movers as well as first-time buyers, on any property up to £600,000.
Source, and a plain disclaimer
These figures are HM Treasury, Mortgage Guarantee Scheme’s own published terms, last checked on 5 September 2026, and may have changed since. Check the official page before relying on any of them, and speak to a whole-of-market broker or your local authority about whether you’re actually eligible. This is not financial advice.
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