Government backed 95% mortgages as promised by Rishi Sunak at the recent budget go live this week. A number of high street lenders have all signed up to the scheme with the number of products and lenders set to increase in the coming days and weeks. 


Scheme eligibility 

The scheme is available for property purchases in England, Wales, Scotland, and Northern Ireland and there are several key government criteria which every application will need to meet

  • The maximum property price/value is £600,000 (although some lenders have capped this figure at a slightly lower value).

  • The property must be the only residential property owned by the applicant and must be owner-occupied.  Applicants with another residential property, whether let or used as a second home or for family occupation, do not qualify.

  • The mortgage must be on capital and interest.


Along with the government scheme eligibility, individual lenders will also have some of their own criteria which will need to be met. 

For more information on the new government backed scheme and for whole of market mortgage advice, contact Start Financial Services on 020 8315 6960.

Your home may be repossessed if you do not keep up repayments on your mortgage.