New Mortgage Guarantee Scheme Unveiled in Budget

Calculating a mortgage
(Image credit: getty images)

A new mortgage guarantee scheme to help homebuyers with low deposits was announced by chancellor Rishi Sunak in Wednesday’s Budget

Launching in April, the scheme will allow participating lenders to offer mortgages to homebuyers who only have small deposits saved. 

Hugh Metcalf

Hugh is editor of sister title and former digital editor of He has worked on a range of home, design and property magazines, including Grand Designs, Essential Kitchens, Bathrooms, Bedrooms and Good Homes. Hugh has developed a passion for modern architecture and green homes, and moonlights as an interior designer, having designed and managed projects ranging from single rooms to whole house renovations and large extensions. He's currently renovating his own Victorian terrace in Essex, DIYing as much of the work as possible. He's recently finished his kitchen renovation, which involved knocking through walls, and landscaping a courtyard garden, and is currently working on a bathroom renovation.