Upgrade to ChromeUpgrade to FirefoxUpgrade to Internet ExplorerUpgrade to Safari

Goodbye to Help to Buy mortgage guarantee scheme

The Government’s Help to Buy mortgage guarantee scheme is to be shelved at the end of this year – despite calls by some lenders for it to be renewed.

The scheme, one of two offered under the Help to Buy title, will close to new mortgages on 31 December 2016.


More than 86,000 households have used the guarantee to buy a home since 2013. It works by offering lenders five percent deposit mortgages, with the Government taking on some of the risk

Why is it ending?

According to the Chancellor, Philip Hammond, more than 30 lenders now independently offer mortgages worth 90-95% of a property’s value so there is less need for the Help to Buy scheme within the mortgage market.

Have you still got time?

Yes – but you need to move quickly. If you want to take out a mortgage under the scheme you will need to do so by the deadline – 31 December 2016.

Is the Help to Buy ISA scheme affected?

No – this will be available to new applicants until 2019. The Equity Loan scheme for new-build properties will also remain in place.

Read more about the Help to Buy ISA scheme here

Get in Touch

Request a call back

If you’d prefer us to call you back, just use the form below to give us your number and the best time to call. It would also be useful if you could give us some idea of what you’d like to discuss.