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Help To Buy
Tony_MechEng
Posts: 17 Forumite
Hi,
Hopefully a straightforward query which someone has came across since the HTB scheme was introduced.
If we were looking at a home which was priced for example at 200k, with a less 20% figure taking it down to 160k, ignoring our 5% deposit, would we need a mortgage in principle for 200k or for 160k?
Thanks for any help received.
Tony.:)
Hopefully a straightforward query which someone has came across since the HTB scheme was introduced.
If we were looking at a home which was priced for example at 200k, with a less 20% figure taking it down to 160k, ignoring our 5% deposit, would we need a mortgage in principle for 200k or for 160k?
Thanks for any help received.
Tony.:)
0
Comments
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You get your agreement in principle for the amount you want to borrow, not the purchase price of the property.
That's the same with HTB, FirstBuy or just your own deposit.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.0 -
Thanks for the quick reply.0
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