What Cheshunt Buyers and Sellers Need to Know About the New Mortgage Guarantee Scheme

Big news for the Cheshunt property market: the Government has launched a new, permanent Mortgage Guarantee Scheme designed to help buyers with smaller deposits get onto the property ladder — and it could benefit sellers too.

What Is the New Mortgage Guarantee Scheme?

The Mortgage Guarantee Scheme enables buyers to secure a mortgage with just a 5% deposit. The Government provides a partial guarantee to lenders offering 91–95% loan-to-value (LTV) mortgages — reducing their risk and making them more likely to approve higher LTV loans.

So if you’ve been struggling to save a 10% deposit, this scheme could open the door to your next move.

???? The key points:

• Available to first-time buyers and home movers

• Applies only to main residences

• No cap on property value

• Subject to standard lender criteria

• Permanent scheme (unlike the temporary version from 2021–2025)

How Does It Work?

Buyers apply for a mortgage through participating lenders (not all banks are involved). If eligible, the lender applies the scheme on your behalf — there’s no separate application process.

You still need to meet the lender’s usual checks on affordability and creditworthiness, and you’re fully responsible for your repayments.

???? Expert tip: Mortgages under this scheme won’t suit everyone. Always seek advice from a qualified mortgage broker or independent financial adviser.

What Does It Mean for the Local Market?

While take-up may be limited — the previous version supported just 53,000 buyers over four years — the wider impact on the market could be significant.

By making it easier for first-time buyers to secure financing, more sellers (especially second- and third-time movers) can progress with their own plans. That helps unlock property chains and keeps the Cheshunt market moving.

Are You Ready to Move?

Whether you're buying your first home, moving up the ladder, or preparing to sell your property in Cheshunt, our experienced local team is here to help.

???? Based on Turners Hill since 1996, we’ve helped thousands of buyers and sellers navigate the local market with confidence.

? Book a free market appraisal
? Browse our current properties for sale
? Speak to a mortgage adviser we trust

???? Call us today on 01992 637777
???? Email info@woodhouseproperty.co.uk
???? See our latest listings