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.
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.