The Government is committed to supporting people who aspire to become homeowners. In recent years, increased deposit requirements and falling equity values have left many hardworking households unable to get onto the housing ladder or trapped in homes unsuited to their aspirations and needs. In today’s Budget, the Government has therefore announced the Help to Buy a package to support a new generation in realizing the dream of homeownership. This package includes the introduction of a new mortgage guarantee to enable more households to access mortgages on both new build and existing homes, without the need for prohibitively large deposits. Help to Buy: mortgage guarantee will be designed to increase the appetite of mortgage lenders for high loan-to-value lending to creditworthy customers. It will provide lenders with the option to purchase a Government guarantee that compensates them for a portion of their losses in the event of foreclosure. The Government will charge a commercial fee for the provision of this guarantee.