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    • starrybear
    • By starrybear 11th Mar 17, 11:17 AM
    • 52Posts
    • 3Thanks
    Help to buy deposit
    • #1
    • 11th Mar 17, 11:17 AM
    Help to buy deposit 11th Mar 17 at 11:17 AM
    Hi all,

    Just a quick one - we're hopefully about to sell our house which will give us equity of c£30k. If we buy a new build, using HTB, the 5% deposit will come to £12500 (£250k house).

    Will we be able to place a deposit somewhere between £12500 and £20000 and keep the rest for furniture purchases etc?

    Any insight gratefully received!

Page 1
    • alex_163163
    • By alex_163163 11th Mar 17, 11:32 AM
    • 144 Posts
    • 94 Thanks
    • #2
    • 11th Mar 17, 11:32 AM
    • #2
    • 11th Mar 17, 11:32 AM
    Yes you can place whatever amount deposit you would like, over 5%. I placed 14% deposit when I bought my flat with HTB.
    You can then decide whether you still take out the full 20% HTB loan and a smaller mortgage, or the other way round - apply for a smaller HTB loan e.g. 15% and have a larger mortgage.
    Hope that makes sense!
    • starrybear
    • By starrybear 11th Mar 17, 11:41 AM
    • 52 Posts
    • 3 Thanks
    • #3
    • 11th Mar 17, 11:41 AM
    • #3
    • 11th Mar 17, 11:41 AM
    Yes, I think that makes sense! Thank you :-)
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