A new report has been published this morning, the Mortgage Guarantee Scheme Quarterly Statistics. You can read it <a href="https://assets.publishing.service.gov.uk/media/66c5a6a467dbaeb97a13e55e/Q1_2024_Quarterly_MGS_Statistical_Report__Final_.pdf">here</a>. Among other things, it says there were 44,368 mortgage completions from scheme launch on 19 April 2021 to the end of March 2024, which represents 1.5% of all residential mortgage completions in the UK from the beginning of April 2021 to the end of March 2024. Of these 86% were purchases by FTBs. Meanwhile, the total value of mortgages supported by the scheme is £8.5bn. Any thoughts, whizz them across ASAP as this story is BREAKING.

mortgages

Mortgage Guarantee Scheme Quarterly Statistics

The scheme was useful initially to re-engage 95% lending but soon became less and less relevant and lenders offered products in that space without utilising this scheme. 

Stephen Perkins

Managing Director of Yellow Brick Mortgages and regular national media commentator on mortgages, housing and personal finance. Yellow Brick is the UK's #1 ranked finance brokerage on Trustpilot, with over 6,900 five-star reviews. Stephen specialises in helping consumers make better financial decisions by explaining complex mortgage topics in simple, practical terms.

Mortgage Guarantee Scheme Quarterly Statistics

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Stephen Perkins

Managing Director at Yellow Brick Mortgages

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