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Richard Eagling, senior mortgages expert at NerdWallet, said: “While government-backed 95% mortgages have been welcomed by many, our research suggests that its benefits may not yet be widely known among potential buyers.”

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The government-backed scheme allows first-time buyers and those wanting to move home a chance to do so with just a 5% deposit.


As of tomorrow its 90% loan-to-value (LTV) 2-year and its 60% LTV 5-year fee free fixes will be reduced.

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The products will be available for purchase and remortgage customers and available on properties up to £600k, for a maximum of 30 years.

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Credit scoring for the Mortgage Guarantee Scheme (MSG) is perceived to be at a high level due to stringent lending, which requires further attention, according to Mike Brown, director of Crystal Clear Financial Services.

95 ltv Mortgage Guarantee

Compared to the five deals available at 95% loan-to-value (LTV) earlier this year, choice for those with the smallest deposits has risen dramatically.

The launch of the MGS opens the door to a greater number of mortgage products suited to borrowers with smaller deposits, according to Davies.


The range of products include 2 and 5-year fixes, which are available to single or joint applicants, with the same rates whether taken out direct or through a broker.


A Barclays spokesperson said: “We are looking forward to supporting customers in their next steps as homeowners with the launch of two new 95% LTV products.”

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The Mortgage Guarantee Scheme aims to help those with lower deposits onto the housing ladder, offering incentives to lenders in order to provide 95% LTV mortgages.