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<p>The Government is committed to making the aspiration of home ownership a reality for as many households as possible. The Government wants current and future generations to experience the benefits of owning their own home, in the same way their parents were able to.</p><p>Since the financial crisis, larger deposit requirements and falling equity values mean many credit-worthy households cannot get a mortgage, or are, trapped in their existing homes unable to take the next step.</p><p>Budget 2013 announced the Help to Buy: mortgage guarantee scheme to increase the supply of low-deposit mortgages for credit-worthy households.</p><p>The Help to Buy: mortgage guarantee is available on mortgages on homes across the UK. The Government has made £12 billion of guarantees available, which is sufficient to support £130 billion of high loan-to-value mortgages.</p><p>Decisions concerning the availability of mortgages, including the regions lenders offer mortgages to, remain commercial decisions for individual lenders participating in the scheme.</p> |