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The Mortgage Guarantee Scheme in Doncaster is a government-backed initiative designed to help homebuyers secure a mortgage with just a 5% deposit.
It aims to encourage lenders to offer 95% loan-to-value (LTV) mortgages by providing them with a financial guarantee.
This scheme is particularly useful for first time buyers and home movers in Doncaster who may struggle to save a large deposit.
The scheme works by offering lenders a government-backed guarantee on a portion of the mortgage, reducing their risk when approving 95% LTV mortgages.
This means that if you’re buying a home in Doncaster, you can secure a mortgage with just a 5% deposit, making homeownership more accessible.
The mortgage itself is still subject to affordability checks, and interest rates will vary depending on the lender and your financial circumstances.
To be eligible for the Mortgage Guarantee Scheme in Doncaster, you’ll need to meet the following criteria:
To find out whether you’re eligible for the scheme, get in touch with our mortgage advisors in Doncaster and book your free mortgage appointment.
The scheme is open to first time buyers and home movers looking to buy a residential property worth up to £600,000.
As long as you can provide a 5% deposit and meet the lender’s affordability checks, you may qualify for a mortgage under this scheme.
Each lender has its own criteria, so it’s important to explore all available options before applying.
Yes, the scheme is available for both new build and existing properties in Doncaster.
However, some lenders have stricter policies on new builds, such as requiring a larger deposit or additional affordability checks.
Checking with different lenders can help you determine the best mortgage for your property choice.
The scheme allows you to buy a home with as little as a 5% deposit.
For example, if you’re purchasing a home worth £200,000, you would need a minimum deposit of £10,000, with the remaining 95% covered by the mortgage.
Having a larger deposit, if possible, could improve your chances of securing a better interest rate.
Interest rates on 95% LTV mortgages may be slightly higher than those on lower LTV deals.
However, the scheme enables buyers to access competitive rates that wouldn’t normally be available with a small deposit.
Since rates can vary between lenders, seeking mortgage advice in Doncaster can help you compare deals and find the most suitable option for your financial situation.
Yes, self employed applicants can apply, but they will need to provide proof of income, typically through tax returns and business accounts.
Some lenders may require a longer track record of earnings, such as two or more years of accounts, to approve a 95% LTV mortgage.
Working with a mortgage broker in Doncaster like us can help you find lenders that are more flexible with self employed applicants.
The scheme is currently set to run until the end of June 2025, but this could be extended depending on government policy.
If you’re considering buying a home with a 5% deposit, it may be best to act sooner rather than later.
Waiting too long could mean missing out on this opportunity, especially if lender criteria tighten over time.
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Bethany
A very good and quick replying broker. Always gave the best advice and looked for the best offer for us. Would highly recommend.
1 month ago
Bethany
A very helpful broker. We received very quick responses. They always looked for the best rates and very understanding of circumstances and gave us the best advice.
1 month ago
Nicola
Very easy to deal with, answered all my questions and put me at ease. Would highly recommend.
7 months ago
Katrina
Fantastic service. so helpful and friendly would highly recommend to anyone and especially Wayne and Chloe they have been with us every step of the way, thank you so much for helping us with our first mortgage
8 months ago
Thomas
Fantastic, very attentive and helpful throughout the whole process
8 months ago
Thomas
Very helpful
9 months ago
Glenn
Excellent customer service. Matt & Lizzi were great with communication throughout the process. Mortgage achieved as promised.
9 months ago
Valy-Sorinel
The best mortgage advisor
11 months ago
George
Great service from Daniel, we are remortgaging this summer and found the best option with his help.
11 months ago
Harrison
The service provided by Tom was brilliant and he was always available to offer support and advice throughout the process. Me and my partner were first time buyers and it couldn’t have been made any easier due to the service provided by Tom and his...
1 year ago
Beth
We have used Jason twice to sort our mortgage after one house fell through. He has been accommodating around working hours and always responds rapidly. Always has good advice and understands any questions we weren’t quite sure on. I would...
1 year ago
Beth
I would recommend using moneyman, Jason has supported us through getting two mortgages, following one house falling through! It made the process much less stressful and he kept us up to date with everything.
1 year ago
Louis
Very good customer communication
1 year ago
Anne
Very helpful and professional
1 year ago
Hayley
Thorough, prompt and personal service. I can not recommend enough. Chris has been excellent to deal with. I would definitely use again
1 year ago
Umar
Great team, excellent communication and makes the process a lot easier. Definitely recommend using them for the support.
1 year ago
Ben
2nd time using these guys and they deliver every time. Brilliant customer support as always
1 year ago
Dean
Excellent service
1 year ago
Mariola
We used Tom as our mortgage adviser and he was brilliant. Answered all our questions, put us at ease throughout the whole process and even scheduled meetings around our schedule - which was quite busy at the time. The whole team was super helpful...
2 years ago
Samantha
Absolutely fantastic service from Leo and Meghan. Everything was done so quickly after the initial call, and everything was explained clearly. Couldn't have asked for a better service, thank you.
2 years ago
Book a free mortgage appointment to discuss your eligibility for the Mortgage Guarantee Scheme in Doncaster.
Our team will guide you through your options and explain the next steps.
We compare thousands of mortgage deals, including those available under the scheme, to find the most suitable option for your financial situation.
Our team will explain the differences between lenders and help you choose the best deal.
Once you’ve selected the right mortgage, we handle the full application process to ensure everything is completed accurately.
We’ll liaise with the lender on your behalf, keeping you updated throughout.
After your mortgage is approved, we support you through the final steps, ensuring a hassle-free process from start to finish.
We’ll work with your lender and solicitor to help you move into your new home smoothly.
We offer a free, no-obligation consultation to explore your options for a CCJ mortgage in Doncaster, giving you expert guidance tailored to your situation.
This allows you to understand your mortgage options before making any commitments.
We work with a wide range of lenders, including those who specialise in mortgages with a CCJ in Doncaster, helping you find the best available deal.
Even if high-street banks have turned you away, we can explore alternative lenders who may be more flexible.
Our experienced mortgage advisors provide clear and friendly guidance, ensuring you understand every step of the process from application to approval.
We take the time to understand your financial background and match you with the right lender for your circumstances.
We’re here when you need us, offering flexible appointments every day, including evenings and weekends, to fit around your schedule.
Whether you need advice during the weekdays or at the weekend, we’re always ready to help.
Shared Ownership allows buyers to purchase a portion of a property (usually 25% to 75%) while paying rent on the remaining share.
This scheme is ideal for those who can’t afford a full mortgage but still want to get onto the property ladder in Doncaster.
Right to Buy gives eligible council and housing association tenants the opportunity to purchase their home at a discounted price.
This scheme helps long-term tenants transition from renting to homeownership.
The First Homes Scheme is designed to help first time buyers and key workers purchase a home at a 30% to 50% discount.
The aim is to make homeownership more affordable for local residents.
The Forces Help to Buy scheme allows military personnel to borrow up to £25,000 interest-free to use towards a deposit or associated home-buying costs.
This initiative helps service members get onto the property ladder with more financial flexibility.
A Lifetime ISA (LISA) allows first time buyers to save for their deposit while earning a 25% government bonus on contributions.
This scheme can significantly boost savings and help buyers secure a mortgage sooner.
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Doncastermoneyman.com & Doncastermoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 9 Gallows Lane, Beverley, United Kingdom HU17 7FJ.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
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Doncastermoneyman.com & Doncastermoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 9 Gallows Lane, Beverley, United Kingdom HU17 7FJ.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
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