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Mortgages: Self-employed

Question for Treasury

UIN HL15266, tabled on 26 April 2021

To ask Her Majesty's Government what steps they are taking to ensure that self-employed workers are not excluded from the 95 per cent mortgage scheme announced on 19 April.

Answered on

29 April 2021

The new mortgage guarantee scheme is designed to increase the availability of 95% Loan to Value lending products. Participating lenders must offer all of their 95% mortgages, for both first time buyers and home movers, through the scheme. These would include any products that they offered at 95% for the self-employed.

The pricing and availability of mortgage loans, including the assessment of mortgage applications, remains a commercial decision for lenders and the Government does not seek to intervene.

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