Originally intended to expire on 31 December, the Scheme will now be extended to June 20254.
The Mortgage Guarantee Scheme was introduced during the pandemic to help new homebuyers purchase properties with a high LTV mortgage. The extension of the scheme to 2025 will help more people get a high LTV mortgage and thus the opportunity to get onto the housing ladder and out of rental or family accommodation.
All these measures will hopefully provide some relief to homebuyers, homeowners, and savers through the months ahead. There could be more to come in the next Spring Budget, but for other ways to get saving and make your money go further, view our Knowledge Centre for our latest tips and guidance.