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Help to buy mortgage guarantee scheme...
TMC35
Posts: 34 Forumite
We are currently saving into the Nationwide Save to Buy account and will have a 5% deposit by August and was planning on trying to use this option to by our first home... current interest rate is 5.49%
I am now confused... since the announcement of the Mortgage Guarantee scheme I am worried that the rates might be lower and more inline with the newbuy scheme rates which are in the 4%ish bracket and therefore if we hold on and they are, we could save a fair amount on our repayment...
But... I have also read that once this scheme launches the expectation is that there will be many more FTB's able to buy and this will push up prices quickly and if you can buy by the end of this year, you should!
I wish I had a crystal ball
obviously we are going to have to make a decision and hope for the best, but I wondered what peoples thoughts were around this scheme....
I am now confused... since the announcement of the Mortgage Guarantee scheme I am worried that the rates might be lower and more inline with the newbuy scheme rates which are in the 4%ish bracket and therefore if we hold on and they are, we could save a fair amount on our repayment...
But... I have also read that once this scheme launches the expectation is that there will be many more FTB's able to buy and this will push up prices quickly and if you can buy by the end of this year, you should!
I wish I had a crystal ball
obviously we are going to have to make a decision and hope for the best, but I wondered what peoples thoughts were around this scheme.... 0
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