Question to the HM Treasury:

To ask His Majesty's Government what assessment they have made of the long-term impact of their proposed 99 per cent mortgage scheme on (1) the housing market, and (2) borrowers.

The Government does not comment on theoretical schemes but continues to keep policy under review. The Government remains committed to supporting people of all incomes and at all stages of life in order to make the aspiration of home ownership a reality for as many households as possible.

The Mortgage Guarantee Scheme – launched in April 2021 – continues to support homebuyers and movers with deposits as small as 5%. As of June 2023, the scheme has directly helped over 39,000 households to buy their homes, 86% of which have been first-time buyers.