The Mortgage Guarantee phase of the Help to Buy scheme is now up and running, opening the door to many would be home movers who are now able to take advantage of the 95% mortgages available.

Help to BuyThe scheme makes a home move possible that would otherwise be put off due to the challenge of saving a sizeable deposit. Now trapped Up-Sizers and First Time Buyers could be able to buy with a deposit of just 5% of the property value.

The application process will be through a participating mortgage lender; most major mortgage lenders are on board including RBS/NatWest, Halifax, Santander, Barclays, HSBC, Virgin Money, Lloyds, TSB and Aldermore.

Mortgage applicants will face the same checks as usual to make sure they can afford the mortgage payments.

To enable to banks to lend at such a high loan-to-value ratio the government offer a guarantee to the lender of 15% of the loan, for a fee, to guarantee 15% of the mortgage for seven years.

The scheme is applicable to new and pre owned homes up to the value of £600,000 in the UK. Second homes and buy-to-let property are not eligible.

As this is such an inclusive scheme it will help property mobility for first time buyers and families alike. Many buyers in the property market are also looking to sell their current property; this should mean more property available and therefore choice, as people take advantage of the scheme.

We can help too, we have been accurately valuing and selling property in this area for over 21 years and are well equipped with the knowledge and experience to help sell your home in this increasingly buoyant property market.

Contact your nearest branch to see how we can assist you in taking advantage of the Help to Buy scheme to buy or sell your home.

We can also put you in touch with an Independent Financial Advisor from Davenport Financial Management who will happily meet you at any of our offices to discuss mortgages and Help to Buy.

Fleet (01252) 812121  fleet@mackenziesmith.co.uk

Farnborough (01252) 375999  farnborough@mackenziesmith.co.uk

Hartley Wintney (01252) 844015  hartleywintney@mackenziesmith.co.uk

Ash Vale (01252) 353030  ashvale@mackenziesmith.co.uk

Hook (01256) 764666  hook@mackenziesmith.co.uk

Sources: (http://www.bbc.co.uk/news/business-24490672 ) (https://www.gov.uk/affordable-home-ownership-schemes/help-to-buy-mortgage-guarantees)

Note: Independent Financial Advisers are authorised and regulated by the FSA. Your home may be repossessed if you do not keep up repayments on a mortgage or any debt secured on it.