Rachel Reeves announces permanent 95% mortgage guarantee scheme

Mortgages offered through the scheme will mean first-time buyers and home movers can buy a home with a deposit of just 5%

Chancellor of the Exchequer Rachel Reeves
Rachel Reeves has announced a permanent 95% mortgage guarantee scheme
(Image credit: Photo by Leon Neal/Getty Images)

Chancellor Rachel Reeves has announced a new, permanent mortgage guarantee scheme, helping to support homebuyers with a deposit as small as 5%.

The announcement comes on a busy day for the Treasury, which has also unveiled investment rule changes as part of the so-called Leeds Reforms, and ahead of Reeves’s Mansion House speech this evening (15 July).

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Ruth Emery
Contributing editor

Ruth is an award-winning financial journalist with more than 15 years' experience of working on national newspapers, websites and specialist magazines.


She is passionate about helping people feel more confident about their finances. She was previously editor of Times Money Mentor, and prior to that was deputy Money editor at The Sunday Times. 

A multi-award winning journalist, Ruth started her career on a pensions magazine at the FT Group, and has also worked at Money Observer and Money Advice Service. 

Outside of work, she is a mum to two young children, while also serving as a magistrate and an NHS volunteer.

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