Mortgage guarantee scheme

Now you only need a 5% deposit, you could be living in your ideal home sooner than you thought.



We all need a helping hand occasionally.
Well, buying your beautifully designed, thoughtfully finished Dandara home just got that little bit easier.
From April 2021, thanks to the new government-backed mortgage guarantee scheme, 95% mortgages will be more widely available, meaning you only need a 5% deposit.
What’s more, the scheme is available to both first-time buyers and those moving on from an existing home.


Dotting the Is and crossing the Ts on the mortgage guarantee scheme. 

To help home buyers struggling to save a high mortgage deposit in the current environment, the government is offering lenders incentives to encourage them to offer 95% mortgages. Understandably, they want to make the scheme as simple as possible so more people can access it. But there are a few conditions, which we’ve summed up here for you. It must:

  • Be a residential mortgage (not on a second or buy-to-let home) taken out by an individual or individuals rather than an incorporated company. 
  • Be on a property in the UK with a purchase value of £600,000 or less. 
  • Have a loan-to-value between 91% and 95%. 
  • Be originated between the dates specified by the scheme. 
  • Be a repayment mortgage and not interest-only. 
  • Meet standard requirement in terms of the assessment of the borrower’s ability to pay the mortgage, for example a loan-to-income and credit score test. 
If you have any questions about the new scheme or would like to find out more, please speak to our friendly Sales team at your chosen development.

Other schemes available