Budget 2013 Mortgage Guarantee
Published / Last Updated on 28/11/2013
Budget 2013 Mortgage Guarantee
Help to Buy: Mortgage Guarantee
The government will help all homeowners who wish to move on and buy higher loan to value property with mortgages with a mortgage loan guarantee scheme to lenders
- How it works
- New build and existing homes - i.e. all homes
- Minimum 5% deposit paid by you
- Available for first time buyers
- Available to existing homeowners
- Government will offer guarantee to mortgage lenders if you default
- Starts 1 January 2014
- Scheme available for 3 years
- Maximum house purchase price £600,000
- This will encourage lenders to offer higher loan to value mortgages