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The Benefits of Broker Advice on the Mortgage Guarantee Scheme

The Mortgage Guarantee Scheme has been a welcome initiative for thousands of home buyers. Here we look at whether you need a broker to take advantage of the governmental support and how it can improve your prospects.

Almas Uddin
Almas Uddin

Founder and Mortgage Advisor

Almas Uddin2023-05-09
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The Benefits of Broker Advice on the Mortgage Guarantee Scheme

The new mortgage guarantee scheme is an excellent option for many buyers who need a mortgage yet have a relatively low deposit available.

However, it is just as vital to use an independent broker to find the most competitive mortgage guarantee products as for any other home loan!

This guide will explain how the mortgage guarantee scheme works and why whole-of-market guidance is essential to getting the best deals on the market.

If you're keen to apply for a mortgage guarantee loan, give Revolution Brokers a call on 0330 304 3040, or email us at [email protected], and we'll get your application started!

Can a Broker Help Me Find a Mortgage Guarantee Scheme Lender?

There is no mandatory requirement to use a broker - but it's strongly advisable.

Revolution Brokers have years of expertise securing low-interest deals or negotiating terms in even complex mortgage application cases.

It's also crucial you apply to the right lender. Our role is to ensure you don't apply to an unsuitable provider who will reject your application or end up paying higher rates than you should.

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Is the Mortgage Guarantee Scheme the Right Option for Me?

It's all about your circumstances, which is why we advocate using a whole-of-market broker before taking out any long-term finance!

For example:

  • Other low-deposit mortgages may be a better deal.
  • There are multiple alternatives and options to consider, such as Help to Buy.
  • Our broker-exclusive products are far more favourable than those on the open market.

The best way to ensure you're applying for the most beneficial mortgage is to seek guidance from an independent broker. Revolution Brokers will assess your circumstances and borrowing needs before making any suggestions about the best lender, mortgage scheme or product.

How Can Revolution Find Me a Better Mortgage Guarantee Scheme Lender?

There are so many powerful reasons to consider using a mortgage broker:

  • We know every lender, every product, and every government support scheme.
  • As an independent broker, we can recommend other initiatives if we think they will be more suitable or affordable.
  • Our teams can explain the mortgage guarantee scheme, so you know all the pros and cons.
  • We offer specialist knowledge about the UK low-deposit market to help you make informed decisions.
  • Revolution is a whole-of-market broker, so we can suggest any product from any lender that we feel would benefit you.
  • Access to exclusive deals and products you won't find through high street banks or mainstream mortgage lenders.

Choosing a bank you have used before or any provider from the list of institutions participating in the mortgage guarantee scheme is highly unlikely to be the most beneficial solution.

How Do Mortgage Brokers Earn a Profit on Mortgage Guarantee Scheme Advice?

Lots of clients avoid the expertise of a broker due to concerns about hefty fees - and the opposite is true!

It's often possible to save a large amount of money on mortgage repayments by having an experienced broker negotiate your terms, saving far more than any broker charges.

However, a consultation is free, and with no obligation, so you can decide whether you'd like to proceed.

Most Revolution clients save a substantial amount on their total mortgage costs by benefitting from our advice.

Can I Get a Mortgage Guarantee Product With Adverse Credit?

Quite possibly, yes!

Many of our customers are concerned about getting a mortgage due to credit issues - but the guarantee scheme is designed to help you find affordable lending.

We recommend a suitable lender depending on your specific credit issues, including niche bad credit lenders who specialise in supporting homebuyers who have had severe problems in the past.

Expert Mortgage Guarantee Scheme Advice

If you'd like to take advantage of the mortgage guarantee scheme, it's highly advisable you give Revolution Brokers a call.

We recommend the top products and lenders to ensure your application is approved and offers the best value for money available.

Almas Uddin
Almas Uddin

Founder and Mortgage Advisor

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Further Reading

Auction Finance
UK Bridge to Let Mortgage Borrowing
Fast Bridging Finance
Low-Cost Bridging Loans
Are Bridging Loans Regulated by the FCA?
Bridging Finance for Land Developments
Bridging Loans Guide
Bridging Loans for Residential Homes
Can I Get a Bridging Loan as a Second or Third Charge on a Property?
Bridging Loan at 100% Loan to Value?
Choosing a UK Bridging Finance Lender
Commercial Bridging Finance
Financing a Property Purchase at Auction
Finding Regional UK Bridging Loans
Bridging Loan with Adverse Credit
Hotel and Care Home Bridging Loan Products
How to Choose a Bridging Loan Broker?
Long & Short Term Bridging Finance
Revolution Calculator for Bridging Finance Borrowing
Bridging Finance on Rental Investments
What are the Costs of Applying for a Bridging Loan?
What is the Maximum Bridging Loan Available?
Which UK Lenders Offer the Cheapest Bridging Loans?
Applying For a UK Bridging Loan
Bridging Loan with an Adverse Credit
Why Use a Broker for a Bridging Loan Application?
Finding a New Mortgage After a Precise Mortgages Rejection
The Benefits of Broker Advice on the Mortgage Guarantee Scheme

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As specialist mortgage brokers for a huge variety of applicants, the whole-of-market consultants at Revolution provide access to an exceptional range of lenders, products and mortgage deals. That means you get the advantage of professional negotiation and broker-exclusives through an established lending network to ensure we always find you the most competitive mortgage available.

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FCA disclaimer

The content included in our articles, blogs, web pages and news publications is based on information accurate at the time of writing. Note that policies and criteria can change regularly throughout the UK mortgage lending market, and it remains essential to contact the consultation team to receive up to date guidance. The information included on the Revolution Brokers site is not bespoke to any circumstances or individual application scenarios and therefore is not intended to be used as financial advice. The content we share is designed to be informative and helpful but cannot be relied upon to provide individual advice relevant to your mortgage requirements. All Revolution team members are fully qualified, trained and experienced to provide mortgage advice of an independent nature.

We collaborate with lenders and providers who are regulated, authorised and registered with the Financial Conduct Authority (FCA). Should you require specific mortgage borrowing types, some products such as buy to let mortgages may not be FCA regulated. The Revolution team can provide further information about regulated and unregulated lending as required. Please remember that a mortgage is a debt which is secured against your home or property. Your home can be at risk of repossession if you do not keep up with the repayments or encounter any other difficulties in managing your mortgage borrowing responsibly. This also applies to any remortgage or home loan secured against your property, including equity release products.

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