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The Mortgage Guarantee Scheme in Leicester is a government-backed initiative designed to help people buy a home with just a 5-9% deposit.
It was introduced to encourage lenders to offer more 91-95% loan-to-value (LTV) mortgages, making it easier for first time buyers and home movers to get onto the property ladder.
The scheme provides lenders with a guarantee, giving them more confidence to approve mortgages with smaller deposits, while borrowers still go through standard affordability checks.
The Mortgage Guarantee Scheme in Leicester works by providing lenders with a government guarantee.
This reduces the lender’s risk, allowing them to offer 91-95% LTV mortgages to buyers who have saved a 5% deposit.
From the borrower’s perspective, the process is the same as applying for a regular mortgage, with lenders assessing your income, credit history, and affordability before making a decision.
To be eligible for the Mortgage Guarantee Scheme in Leicester, you’ll need to meet specific criteria.
The scheme is available to both first time buyers and home movers purchasing a property worth up to £600,000.
It must be a residential property that you intend to live in, not a second home or buy-to-let investment.
You’ll also need to provide a deposit of 5-9%, and lenders will carry out their usual affordability and credit checks as part of the application process.
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The fee is up to 1% but a typical fee is £495.
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5.00 Rating32 Reviews
Anonymous
Very professional. Kept me informed every step of the way. Explained the mortgage application process fully. Found me another lender immediately, after my first application got rejected.
Anonymous
I found Moneyman to be very professional and easy to work with. They explained everything clearly, kept me informed throughout the process, and were always easy to contact. I especially appreciated the personal touch of having a video call, which...
Anonymous
Great and knowledgeable advisor, Leo has been helping every step of the way and was able to answer lots of questions and provide lots of advise. Highly recommend using Leicestermoneyman
Emma
Beyond happy with our experience with moneyman. Quick responses, helpful and friendly. Definitely went above and beyond our expectations. Wouldn’t trust anyone else. Thank-you!
Neil
Highly recommend Leo Shakespeare! Leo has been very helpful, approachable and informative - we will be recommending him to others who are buying a home.
Elizabeth
I approached moneyman with an urgent problem of remortgaging my property within a deadline of 2 months or I loose my property .I was professionally welcomed by Paula and her 2 other colleagues who gave me advice and options of what I can do ....
Simon
Brilliant service thank you for all your help
Dawid
Excellent
Grant
Very fast friendy service, any questions were answered throughly and quickly and the whole service from start to finish was smooth and stress free.
Lucy
Excellent service from start to finish! Chris kept us fully informed and answered all of our questions throughout. He took the pressure off us and was professional throughout! Highly recommend!!
Rebekah
Jo and Chris were extremely helpful. Got everything done so quickly!
Joanne
It was smooth, took all the stress of reseaching the best mortgage. Easy access to appointments. TOM was great and understanding
Bhaven
Very very good thank you
Zubair
Charlie was very easy to talk too and made things easy and simple to understand and explained our options in detail which really helped us through the process as first time buyers.
James
Jason and his colleagues at UK Moneyman have been amazing from the start. When we began the process of house buying and finding a mortgage we knew very little, but Jason explained much to us in a telephone consultation and outlined all our options....
Samantha
Very impressed, service was really good and efficient and anything g that needed explaining was done very clear. Would definitely recommend
Shelline
Leo Shakespeare and Stacey Jopling has work long side each other to made this entire journey extremely smooth and informative as a first time buyer. His service has been phenomenal. I had been rejected from many other brokers and banks and he...
Nafesa
I have been dealing with Wendy and Malcolm in regards to my house purchase and I could not recommend these enough. A true credit to the company. Very efficient with communication and solving any issues that needed to be addressed. Would highly...
Anonymous
Incredibly helpful, supported throughout whole process
Nazeef
Fantastic experience. Charlie helped me race through to secure the most suitable mortgage offer, best plan for life and critical illness insurance. Very approachable and responsive even with any queries I had after everything was completed.
Book a free initial mortgage appointment to discuss your options for the Mortgage Guarantee Scheme in Leicester.
We’ll review your situation, answer any questions you have, and help you understand how the scheme could work for you.
We’ll search through 1000s of mortgage products, including lenders participating in the Mortgage Guarantee Scheme in Leicester.
This ensures you get access to the most competitive deals available for your circumstances.
Once you’ve chosen the right deal, we’ll guide you through the mortgage application process, handling the paperwork to make it as simple as possible.
We’ll also liaise with the lender to keep things moving smoothly.
After your application is approved, we’ll support you through to completion, ensuring everything is finalised correctly.
You’ll then be ready to move into your new home with the support of the Mortgage Guarantee Scheme in Leicester.
We offer a free initial mortgage appointment to help you explore your options with the Mortgage Guarantee Scheme in Leicester.
This gives you the chance to ask questions and receive expert guidance with no obligation.
We have access to 1000s of mortgage products, including deals from lenders participating in the Mortgage Guarantee Scheme in Leicester.
This ensures we can find the most suitable mortgage for your needs and financial situation.
We pride ourselves on delivering friendly, straightforward advice, guiding you through every step of the mortgage process.
From your first enquiry to completion, we’re here to make things simple and stress-free.
We’re available seven days a week, so you can get the support you need when it suits you best.
Whether you prefer an evening call or a weekend appointment, we’re here whenever you need us.
Our Home Buying App is a digital mortgage coach designed to help you save up, plan, and track your home buying journey – whether you’re buying your first home, or fancy a move.
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Leicestermoneyman is a trading name of UKMM Limited, which is an appointed representative of Mortgage Advice Bureau (Derby) Limited, who are authorised and regulated by the Financial Conduct Authority.
UKMM Limited is Registered in England, No. 16541342 | Registered Address: Capital House, Pride Place, Pride Park, Derby, England, DE24 8QR.
© Leicestermoneyman 2009–2026
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Leicestermoneyman is a trading name of UKMM Limited, which is an appointed representative of Mortgage Advice Bureau (Derby) Limited, who are authorised and regulated by the Financial Conduct Authority.
UKMM Limited is Registered in England, No. 16541342 | Registered Address: Capital House, Pride Place, Pride Park, Derby, England, DE24 8QR.
© Leicestermoneyman 2009–2026
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