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The Mortgage Guarantee Scheme in Cambridge is a government-backed initiative designed to help homebuyers with smaller deposits get on the property ladder.
By supporting lenders, the scheme makes it easier to secure a mortgage with as little as a 5% deposit, opening up opportunities for first time buyers and those looking to move home.
This scheme encourages lenders to offer low-deposit mortgages in Cambridge by providing a government guarantee.
If you meet the criteria, you can access mortgage deals with only a 5% deposit, while the lender benefits from added security.
This makes it an attractive option for those struggling to save a large deposit in Cambridge’s competitive property market.
To qualify for the scheme, the property must be valued at £600,000 or less and purchased as your primary residence.
Buy to let and second homes are not eligible. Additionally, you’ll need a credit-worthy profile to meet the lender’s affordability checks.
Working with a mortgage broker in Cambridge like us can help you navigate these requirements.
The scheme is open to first time buyers and home movers purchasing a property to live in.
To qualify, the home must cost £600,000 or less, and the buyer must have a minimum 5% deposit.
A mortgage advisor in Cambridge can help assess your eligibility and guide you through the process.
Yes, the scheme is available for new builds and existing properties, as long as the other criteria are met.
This flexibility makes it a popular choice for buyers exploring Cambridge’s property market.
A mortgage broker in Cambridge like us can help find lenders offering suitable deals.
No, the scheme is exclusively for residential properties that you intend to live in. Buy to let and second homes are not eligible.
If you’re considering other types of mortgages, seeking mortgage advice in Cambridge is highly recommended.
The scheme requires a minimum deposit of 5% of the property’s value.
This makes it an excellent option for those with limited savings but strong affordability credentials.
A mortgage broker in Cambridge can help match you with lenders offering these low-deposit deals.
The scheme is currently set to run into 2025, but extensions could be announced.
If you’re planning to use the scheme, it’s worth acting sooner rather than later to ensure access.
Our mortgage advisors in Cambridge can help you take the first steps.
Our Customers Love Us
5.00 Rating3 Reviews
Jessica
Very responsive even in late evenings! Answered all of the questions that I had, explained the whole process through out and made the house buying process so much easier!
6 months ago
Anonymous
Great service, very efficient.
2 years ago
Anonymous
Helen was lovely to chat with, she booked me in for an appointment with a broker within minutes of me sending an email enquiry on a Sunday and explained everything about the process really well.
8 months ago
Steven
Great service. Would definitely recommend to people struggling to get a mortgage. Cambridgemoneyman, a huge thank you from us
4 years ago
Eamonn
Spoke to several Mortgage Brokers about my situation and having talked to Malcolm, he fully understood my views and gave me his honest opinion. A very professional, friendly, and efficient service that enabled us to the best mortgage on the market.
2 years ago
Bailey
Massive thank you to Malcolm and the team at Cambridgemoneyman. We were very impressed with the level of service we received. As first time buyers, we were thrilled with the mortgage rate that got recommended for our circumstances, and we will...
4 years ago
Book a free appointment with one of our experienced mortgage advisor in Cambridge to discuss your goals and explore options under the Mortgage Guarantee Scheme.
We’ll search through thousands of mortgage products to find the most suitable deal that meets the scheme’s criteria and aligns with your financial situation.
Your dedicated mortgage broker in Cambridge will handle your application, ensuring all paperwork is completed accurately and submitted on time.
We’ll keep you updated at every stage, from application approval to securing your new home, making the process stress-free and straightforward.
We offer a no-obligation mortgage appointment, giving you personalised advice on the Mortgage Guarantee Scheme in Cambridge.
With access to thousands of mortgage options, we’ll find the best deal that suits your needs and meets the scheme’s requirements.
From your first enquiry to completion, our expert mortgage advisors in Cambridge provide friendly, professional support every step of the way.
Our team is available 7 days a week, ensuring you can get the mortgage advice you need at a time that works for you.
Shared Ownership in Cambridge allows buyers to purchase a share of a property, typically between 25% and 75%, while paying rent on the remaining portion.
This scheme is ideal for those looking to step onto the property ladder with a smaller deposit.
For eligible council and housing association tenants, the Right to Buy in Cambridge scheme offers the opportunity to purchase your home at a discounted price, making homeownership more accessible.
Designed to help first time buyers and key workers, this scheme offers properties at a discounted price of up to 30% off the market value, providing a more affordable route to owning a home in Cambridge.
A Lifetime ISA in Cambridge helps first time buyers save for a deposit with government contributions of 25% on your savings, up to £1,000 per year, making it a great way to boost your home-buying fund.
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Cambridgemoneyman.com & Cambridgemoneyman 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: 10 Consort Court, Hull, HU9 1PU.
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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Cambridgemoneyman.com & Cambridgemoneyman 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: 10 Consort Court, Hull, HU9 1PU.
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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