New build mortgage

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We are hoping to buy a new build with a 5% deposit and 25% help to buy loan. The plot will be available to reserve in 8 weeks for £500. My question is when would we need to pay our deposit? The completion of the build is expected to be October.

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  • kingstreet
    kingstreet Posts: 38,767 Forumite
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    Max HTB equity loan is 20%, unless in London?

    You will be expected to hand over your deposit ahead of exchange of contracts, usually no more than 28 days after reserving.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
  • Hopefulhomeowner
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    Sorry I meant 20%
  • kingstreet
    kingstreet Posts: 38,767 Forumite
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    I'm unable to answer your PM.

    Please post the details in your thread so others can answer.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
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