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Mortgage guarantee scheme

Get a helping hand when buying a home

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

Your home may be repossessed if you don’t keep up repayments on your mortgage.

About the mortgage guarantee scheme

The scheme helps home buyers get onto or move up the housing ladder with a minimum deposit of 5% of the property purchase price.

It’s available from 19 April 2021 until 31 December 2022 for residential mortgages on properties worth up to £600,000. We’re offering 95% loan-to-value mortgages with a maximum loan size of £570,000 for houses and £275,000 for flats. A range of fixed-rate mortgages are available, including a 5-year fixed-rate mortgage.

The guarantee applies to the lender, allowing us to offer 95% loan-to-value mortgages. It doesn’t change your obligation to repay the mortgage.

Who can apply 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.

It’s suitable for

  • Home buyers purchasing their home as their only residential property
  • Single or joint mortgage applications
  • Home buyers who want capital repayment mortgages

It can’t be used to

  • Purchase a new-build property
  • Purchase a second home or a buy-to-let property
  • Take out a commercial mortgage
  • Take out an interest-only mortgage

How to apply

Find out how much you could borrow with our calculator, what you’ll need to prepare in advance and how to book your mortgage appointment. 

Use our affordability calculator

Get a more accurate estimate of how much you could borrow from us – takes about 5 to 10 minutes.

Starting your mortgage application

Get ready to apply

Find out how to book an appointment to start your mortgage application, and see the list of documents and information you’ll need to provide.

Ready to apply?

Visit a branch or call us on 0333 202 7580 to make an appointment.

Lines are open Monday to Sunday from 7am to 8pm, except on UK bank holidays.

To maintain a quality service, we may monitor or record phone calls. Call charges.

Mortgage guarantee scheme FAQs

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?

You can see the full range of fixed-rate mortgages we offer (including those offered under the mortgage guarantee scheme) here

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

What other options do you offer?

Depending on your individual circumstances and needs, a Help to Buy equity loan or shared ownership mortgage could help you get on the property ladder.

Help to Buy equity loans

Top up your deposit with an equity loan

With a Help to Buy equity loan, you can add to your deposit on a new-build property, whether you’re a first-time buyer or buying a new home.

London Help to Buy

Buy a new home in London with a 5% deposit

Add to your deposit on a new-build home in London, whether you’re a first-time buyer or buying a new home.

Shared ownership mortgages

Buy a share of a home and pay rent on the rest

When you part-buy, part-rent a home through shared ownership, you can apply for a smaller mortgage amount – so your deposit could be lower, too.