The government has pledged to launch a new, permanent and comprehensive mortgage guarantee scheme aimed at opening the door to homeownership for younger families and renters.
New details about the new mortgage guarantee scheme will be announced in time and will replace the existing mortgage guarantee scheme. This is due to expire this year. 
The government believes that by making the mortgage guarantee system permanent and comprehensive, banks and building society have long-term confidence to continue offering low-deposit mortgages.
Commenting on Launch City Minister Emma Reynolds, he said:
“Simplifying responsible lending rules and introducing permanent mortgage guarantee schemes demonstrate our commitment to making our dream of owning a home a reality. I am close with regulators and the industry. We will work with them to accomplish this quickly and in a way that supports as many people as possible.”
Housing Minister Matthew Pennycook said: This government is determined to change that, allowing young families and hardworking tenants to buy their own homes. ”
He added: “This commitment to the new mortgage guarantee scheme means that first-time buyers, including young families, can lead that important first step into the real estate ladder with just a small deposit, and You can tackle one of the biggest barriers, and give them the stability they need to plan for their future.
