The mortgage guarantee scheme, which is designed to help first-time buyers and existing property owners move up the housing ladder, will allow borrowers with a 5% deposit to buy property worth up to £600,000.
The Government will guarantee up to 15% of the loan at a cost to the lender, allowing the borrower to access cheaper mortgage deals. It has set aside £12bn of guarantees for up to £130bn of mortgage lending and the scheme will remain open for three years to January 2017. Call us now for the latest 95% products.
Your home may be repossessed if you do not keep up repayments on your mortgage.
We charge a typical fee of £395 which is payable upon issue of a formal mortgage offer which includes a non refundable fee of £295. We will also be paid by commission from the lender. Any fee we charge will not exceed 2% of the loan amount. The level of fee payable will depend on the amount of work involved including administration and advice and will be agreed with you before we commence any work on your behalf.