Mortgage guarantee scheme

The government’s mortgage guarantee scheme enables us to offer 95% mortgages for first-time buyers and people looking to move to a new home – as long as they have a deposit of between 5% and 9.99%. It’s available for buying a property that will be your only home, and you’ll need to submit your mortgage application to us by 30th June 2025.

How does the mortgage guarantee scheme work?

If you want a minimum 5% deposit mortgage, you can apply to borrow up to £570,000 for a house or £275,000 for a flat. You can apply for one of our fixed-rate mortgages, including a five-year fixed-rate mortgage. 

The scheme offers a guarantee to us and other lenders, which enables us to offer 95% LTV mortgages. You’ll still have to pay back what you borrow, along with interest and any fees.

Who is eligible to apply for the mortgage guarantee scheme through us?

Whether you’re a first-time buyer or an existing homeowner looking to move, you can apply with a minimum deposit of 5% of the property purchase price.

You won’t be charged any application fees.

The 95% mortgage guarantee scheme is suitable if you

• Are buying a property that will be your only home
• Are applying for a single or joint mortgage
• Want to apply for a repayment mortgage, with no interest-only part
• Have a deposit of between 5% and 9.99% and are looking for a 95% LTV mortgage

You can’t use the scheme to

• Buy a new-build property
• Buy a second home, or a buy-to-let property
• Apply for a commercial mortgage
• Apply for an interest-only mortgage

What happens when my fixed-rate mortgage ends?

You’ll either switch to a new rate or move to our follow-on rate.

What happens if I remortgage with another lender?

If you remortgage with another lender your Barclays mortgage will be redeemed, and the guarantee Barclays benefits from on that mortgage will end.

Can I top up my existing Barclays mortgage to 95% loan-to-value, and port it into the mortgage guarantee scheme?

No, you can’t top up an existing Barclays mortgage and enter it into the scheme.

What about additional borrowing?

You won’t be able to take out additional borrowing if you have a mortgage with the mortgage guarantee scheme. If you’d like to borrow more, you’ll need to redeem and internally remortgage with a new mortgage, and pay any applicable fees.

Will my mortgage be portable?

No. If you move house during the early repayment charge window, you’ll need to redeem your mortgage and pay any applicable fees.

Can I let out my property?

You can only let out your property if

• You’re a member of the armed forces and can’t live there
• It’s been at least 12 months since you completed on your mortgage, and you need to move to another location for employment or compassionate reasons
• You’re experiencing financial difficulty, and we’ve agreed you can let out the property in order to make your mortgage payments

When you apply for permission to let, you’ll need to complete an application form and borrower statement, letting us know which of the above reasons applies to you.

What rates are available for a 95% mortgage?

You can find details of our 95% loan-to-value mortgages, for which you'll need to have at least a 5% deposit, on our mortgage rate sheet [PDF, 630KB]. It also provides details of our full range of mortgage rates.

What other support’s available?

To find out more about other types of support we offer, please read our first time buyer’s guide and our moving home guide.