Mortgage Guarantee Scheme deadline extended to 30 June 2025

The Mortgage Guarantee Scheme will accept new 95% loan-to-value mortgages until 30 June 2025, according to the scheme's policy paper, which was updated on 23 November 2023 to reflect the extended deadline¹. The scheme has been open to participating lenders offering 95% mortgages under the government guarantee since 19 April 2021¹.

The policy paper, published by HM Treasury on 3 March 2021, states that the scheme is intended to "increase the availability of 95% Loan-to-value mortgage products", enabling more households to access mortgages without what it describes as prohibitively large deposits¹. The scheme's rules were previously updated on 16 April 2021¹.

A separate guide to the scheme, published on mpamag.com and dated 23 September 2026, describes different terms. It states that lenders offer 95% mortgages on properties valued up to £600,000, with the government guaranteeing the portion of the loan above 80%². It lists eligibility conditions including that the property must be in the UK and valued at £600,000 or less, that the mortgage must be for a residential property and not a buy-to-let or second home, that the borrower must be a UK resident who does not own any other property anywhere in the world, that the deposit must be between 5% and 9.99% of the property value, and that the mortgage must be repayment rather than interest-only². It also states that the scheme is available for new mortgages only and cannot be used to remortgage an existing property².

That guide gives conflicting end dates for the scheme. It says the scheme "ran until December 2022, and has since been renewed to last until December 2023", and elsewhere that it "was to end in December 2022, but has since been extended to December of 2023"². These dates do not match the 30 June 2025 deadline stated on the government's policy paper¹. The guide also states that there are currently no lenders offering these products².

Why it matters for households

The deadline on the government's policy paper is 30 June 2025, so the scheme's stated availability for new 95% mortgages runs to that date¹. Households buying with a deposit of between 5% and 9.99% of the property value are the group the scheme is aimed at, subject to the property being in the UK and valued at £600,000 or less, and to the borrower being a UK resident who owns no other property anywhere in the world². The mortgage must be a repayment mortgage on a residential property, and cannot be used to remortgage².

The two accounts differ on when the scheme ends, and the mpamag.com guide also reports that no lenders are currently offering these products². The government page does not list participating lenders or current product availability¹.

What happens next

The policy paper records the deadline as 30 June 2025¹. No further extension or closure date beyond that has been reported. The scheme's rules, published as a separate document, were last updated on 16 April 2021¹.

Buying with a 5% deposit under the Mortgage Guarantee Scheme is covered in more detail, alongside the Help to Buy guarantee. Related schemes include NewBuy, the closed new build guarantee scheme, and, for borrowers in Scotland, the Mortgage to Shared Equity scheme. Borrowers facing difficulty with payments may encounter the Mortgage to Rent scheme, and questions about repayment periods are covered under mortgage terms and extensions.