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Mortgage guarantee scheme

Up to 95% mortgages

You can apply for the scheme with a minimum deposit of 5% of the property purchase price, whether you’re buying your first home or planning to move.

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

What is the 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 31 December 2022.

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

How to apply for a 95% mortgage

Our up to 95% mortgage range – also known as 95% LTV mortgages – lets you apply when you have a deposit of between 5% and 9.99% of the property price. Find out what you could borrow, what you’ll need and how to book a 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 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

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.