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HomeBuy Direct, what affect on the LTV?
clarksonwayne
Posts: 78 Forumite
I'm trying to get my LTV down to 65% and am wondering if HomeBuy Direct will bring down the LTV down.
As i'm a first time buyer HomeBuy will pay 30% of the mortgage as a deposit, which then i have ten years interest free to pay it back.
Anyone know if this will have any affect on the LTV? and has any one done this?
Thanks
As i'm a first time buyer HomeBuy will pay 30% of the mortgage as a deposit, which then i have ten years interest free to pay it back.
Anyone know if this will have any affect on the LTV? and has any one done this?
Thanks
0
Comments
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Their website says it's an equity loan, so i expect this will take away the value of the house and so will have no affect on the LTV?0
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Some lenders will treat this as a deposit - Nationwide for example - therefore you will fall into lower LTV products.0
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