Legal News

MHCLG announces plans for new Mortgage Guarantee Scheme

Published on: 14 February 2025
Published by LNB News

LNB News 14/02/2025

Document Information

Issue Date: 14 February 2025

Published Date: 14 February 2025

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

Article summary

The Ministry of Housing, Communities and Local Government (MHCLG) has announced plans to launch a new, permanent, and comprehensive Mortgage Guarantee Scheme, aimed at increasing homeownership among first-time buyers. The new scheme will replace the existing scheme, which was set to expire this year, with further details to be announced in due course. It is intended to provide long-term assurance to lenders such as banks and building societies, enabling them to continue offering low-deposit mortgages.

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