The Mortgage Guarantee scheme can only be used for property you intend to occupy, and must be your only property. A minimum deposit of 5% of the property value will be required. The rest is par for the course - as long as you tick the lender's boxes in terms of credit score and loan-to-income ratios. Another thing to note is that the scheme only applies to repayment mortgages. Interest-only and self-certified mortgages are not included.
If you are interested in buying a new-build property, the Equity Loan scheme could help. Since April 2013 the scheme has made it possible to borrow up to 20% of the cost of a new build from the government. You only need a 5% deposit and a 75% mortgage to make up the rest.
Available for pre-owned properties and new builds across the UK - up to the value of £600,000.
Both existing homeowners and first-time buyers are eligible.
Buyers need a minimum of a 5% deposit.
Available across the UK from participating mortgage lenders.