It's Free to Speak to an Advisor, 7 days, 8am - 10pm
It's Free to Speak to an Advisor, 7 days, 8am - 10pm
The Mortgage Guarantee Scheme in Lincoln is a government-backed initiative designed to help homebuyers secure a mortgage with a smaller deposit.
It’s particularly aimed at those with at least a 5% deposit, offering lenders the confidence to provide mortgages that might otherwise be deemed higher risk.
This scheme makes homeownership more accessible for first time buyers and movers alike.
The Mortgage Guarantee Scheme in Lincoln works by providing lenders with a government guarantee on a portion of the mortgage loan.
This reduces the risk for the lender, allowing them to offer 95% loan-to-value (LTV) mortgages.
As a buyer, you’ll need to provide a minimum 5% deposit, making it easier to get on the property ladder with less upfront savings.
To qualify for the Mortgage Guarantee Scheme in Lincoln, you’ll need to meet the following criteria:
The scheme is open to first time buyers and home movers purchasing a residential property in Lincoln worth up to £600,000.
You’ll need at least a 5% deposit and must apply for a repayment mortgage.
It’s ideal for those with a smaller deposit looking to step onto or move up the property ladder.
Yes, the scheme is available for both new build and existing properties.
This flexibility makes it a valuable option for buyers interested in a wide range of homes in Lincoln, whether you’re drawn to modern developments or established homes.
You’ll need a minimum deposit of 5% of the property’s value.
For example, if the home costs £200,000, you would require at least £10,000.
The remaining 95% of the cost can be covered by a mortgage offered under the scheme.
Mortgages under this scheme may have slightly higher interest rates due to the higher loan-to-value (LTV) ratio.
However, lenders offer competitive deals within the scheme, and consulting a mortgage broker in Lincoln like us can help you secure the most suitable rate.
Yes, self-employed applicants can access the scheme.
However, you’ll need to provide evidence of your income, typically through two years of accounts or tax returns.
Our mortgage advisors in Lincoln can guide you through the process and ensure your application is strong.
The scheme is currently set to run until June 2025.
However, this could change depending on government policy.
Acting sooner rather than later can ensure you don’t miss out on the opportunity to benefit from this initiative.
Our Customers Love Us
4.99 Rating107 Reviews
Samantha
Excellent service, always available when required and made the process hassle free.
1 month ago
Thomas
All of the members of the team I spoke to including Jason and Stacey were fantastic. They answered all my questions and provide support where needed. I would definitely recommend
2 months ago
Anonymous
We reached out to just see where we stood in regards to our borrowing limit and we’ve come out the other end with a mortgage offer and we are going down the route of getting out own home! This never would have been possible without the help of...
10 months ago
Mr Jamie
Daniel was very friendly, knowledgeable and explained everything to us in enough detail without being overwhelming. He gave gentle reminders for things that we had forgotten to do and got us a very good deal for our remortgage. Would highly...
10 months ago
Anonymous
We had a great experience arranging a remortgage with Dinah and Paula. Our situation was a little complicated, but we received very practical advice and they assisted us right through the process. It was all very straightforward in the end. Thank...
1 year ago
Anonymous
Excellent service. Jason has been very helpful and encouraging every step of the way, especially considering our complex circumstances. Easy to set up video calls to discuss matters and email communication has been very quick, detailed and achieved...
1 year ago
Charlotte
Charlie has been nothing but helpful, answers all questions thrown at him, takes the time to explain what everything means which has been hugely helpful as a first time buyer! It’s been a really quick and smooth process from the rest of the team...
1 year ago
Anonymous
Jason and Megan were absolutely brilliant! Both helping me through the entire process.
1 year ago
Hope
Matt & Paula have been so great and efficient in supporting us as first time buyers. Not once did we feel overwhelmed during the process which is great given that we came into this not knowing what to expect. Everything has been quick and efficient,...
1 year ago
Thomas
Matt was incredibly honest and helpful throughout the process even though he was aware I was speaking to a variety of advisors at my point of contact. His knowledge, responsiveness, and willingness to discuss options available to me, made him the...
1 year ago
Hannah
Matt and Stacey were really helpful in sorting our remortgage out. Matt was quick to get back to us when we had questions and Stacey was always on hand as support
1 year ago
Alexander
Dinah has always been available and communicated any changes or good advice we needed. We really appreciate your support
1 year ago
Emma
Quick, efficient, informative service
1 year ago
Milly
Charlie Bryson has been fantastic, supporting me as a first-time buyer from getting an agreement in principle to viewing houses and then through to a mortgage offer in just two weeks! It was a pleasant surprise to find a broker who could explain...
1 year ago
Tori
My mortgage broker was Leo! He’s always been amazing and Iv been dipping in and out for a few years. He really helped me and found the best deals and explain everything I didn’t understand. He was always there on hand and if he had any...
1 year ago
Matthew
Very quick and helpful service.
1 year ago
Andrew
Very helpful and efficient
1 year ago
Michael
Had the good fortune of having Louise H handling our mortgage/sale and she was fantastic throughout. Often filling gaps in communication from our solicitor and regularly engaged from start to finish.
1 year ago
Gordon
I used Lincolnmoneyman when the Nationwide seriously let me down with their offer of a mortgage. Dan Osman was immediately helpful and explained the system and facilitated the set up of our equity release mortgage. With the help of his assistant...
1 year ago
Jordan
‘Great service as usual’
1 year ago
Start your journey with a free appointment to discuss your eligibility for the Mortgage Guarantee Scheme in Lincoln.
Our mortgage advisors in Lincoln will guide you through the process step-by-step.
We’ll compare thousands of mortgage deals, including those under the scheme, ensuring you find the most suitable option for your needs and financial goals.
Once you’ve chosen the right deal, we’ll handle the entire application process, liaising with the lender and keeping everything on track for you.
When your mortgage is approved, we’ll coordinate with all parties to ensure a smooth completion, helping you secure your new home in Lincoln hassle-free.
We offer a free initial consultation to discuss your eligibility for the Mortgage Guarantee Scheme in Lincoln, giving you expert advice without any obligation.
As a mortgage broker in Lincoln, we're able to access thousands of mortgage deals, ensuring you get the best options available under the scheme and beyond.
We pride ourselves on providing personalised, professional, and friendly support, guiding you through the entire mortgage process with clarity and care.
Our team is here when you need us most, offering flexible appointments every day of the week, including evenings, to fit your schedule.
Shared Ownership in Lincoln allows buyers to purchase a share of a property, typically between 25% and 75%, while paying rent on the remaining portion.
It’s an excellent option for those who can’t afford a full mortgage but still want to step onto the property ladder with a smaller deposit.
A right to buy mortgage in Lincoln gives eligible council or housing association tenants the chance to purchase their home at a discounted price.
This scheme makes homeownership more affordable, offering a valuable opportunity to invest in a property you’ve already made your home.
The First Homes scheme in Lincoln provides discounted properties to first time buyers and key workers.
With discounts of up to 30%, it’s designed to make buying your first home more achievable, particularly for those living and working in their local community.
The Forces Help to Buy scheme in Lincoln supports military personnel by allowing them to borrow up to £25,000 interest-free to use towards their deposit or associated costs.
This scheme is a great way for armed forces members to move onto the property ladder while managing their finances effectively.
The Lifetime ISA is a savings account aimed at helping first time buyers in Lincoln save for their deposit.
With a government bonus of 25% on contributions, it’s an excellent way to build up your savings and take a step closer to owning your first home.
For mortgage advice in Lincoln and more ways to boost your mortgage savings, reach out to our team today and get your mortgage process started!
Read our 107 Reviews
Lincolnmoneyman.com & Lincolnmoneyman 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: 9 Gallows Lane, Beverley, United Kingdom HU17 7FJ.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
Contact
Follow Us
Lincolnmoneyman.com & Lincolnmoneyman 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: 9 Gallows Lane, Beverley, United Kingdom HU17 7FJ.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
Speak to an Advisor – It’s Free!
7 Days a Week, 8am – 10pm
