Mortgage Guarantee scheme and launch of 95% loan to value products

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On Monday 19 April 2021 Halifax Intermediaries is launching new purchase products for applications over 90% loan to value (LTV), up to 95% LTV, to support the Government Mortgage Guarantee scheme.

In Halifax Intermediaries Online on the Schemes screen the 'Homebuyer Special' scheme must be chosen for any loan above 90% LTV and the following criteria applies for these applications:

  • Available to first time buyers and homemoversfor purchase applications (not remortgages)
  • Available for loans >90% up to 95% LTV, minimum 5% personal deposit is required and product fees cannot be added above 95%
  • Maximum loan amount of £500,000
  • This must be the customers only residence and they must not have an interest in any other properties such as a second home or Buy to Let
  • New Build properties are not included
  • No other 'schemes' can be selected (Shared Equity, Shared Ownership, right to buy are not acceptable)
  • An enhanced credit score requirement will be applied to any applications on this scheme
  • A maximum 4.49x loan to income cap will be applied as part of our affordability assessment
  • Current credit commitments will be deducted as ongoing in our affordability calculation even when declared as 'to be repaid' at or before completion. The loan amount must be affordable with these commitments deducted as remaining
  • Lending into retirement is allowed subject to normal criteria.

At Decision in Principle stage if the 'Homebuyer Special' scheme has been selected correctly but the above criteria has not been met you will receive a message that the application is not eligible for the Homebuyer Special Mortgage Guarantee Scheme and a Corrective Action message will advise the maximum LTV at which the application may be eligible.

The loan amount can be increased on applications started before Monday 19 April if they now wish to apply above 90% LTV and the above criteria would then be applied.

The Criteria section on the Halifax Intermediaries website will be updated with a Mortgage Guarantee section with details of the above criteria.

Our tracker rate mortgages are linked to Bank of England bank rate (also known as Bank of England repo rate). Details of this rate can be found on the Bank of England website at

For independent information on mortgages, visit the website 'Money Advice Service'.

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