Mortgages: Self-employed

(asked on 26th April 2021) - View Source

Question to the HM Treasury:

To ask Her Majesty's Government what steps they are taking to ensure that self-employed workers are not excluded from the 95 per cent mortgage scheme announced on 19 April.


Answered by
 Portrait
Lord Agnew of Oulton
This question was answered on 29th April 2021

The new mortgage guarantee scheme is designed to increase the availability of 95% Loan to Value lending products. Participating lenders must offer all of their 95% mortgages, for both first time buyers and home movers, through the scheme. These would include any products that they offered at 95% for the self-employed.

The pricing and availability of mortgage loans, including the assessment of mortgage applications, remains a commercial decision for lenders and the Government does not seek to intervene.

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