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Help to buy
pennypg
Posts: 67 Forumite
Hi could anyone tell us which banks are offering help to buy mortgages. Also if we have 10% deposit would we still get the full 20% from the government
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Comments
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Halifax, NatWest, Barclays, Santander, Nationwide, Chorley, Leeds, Teachers, Mansfield Building Societies.
Yes. You need to ensure you borrow within 4.5x income, your debt to income ratio remains within 45%. If you appear to not need it, you may only get 10%, or nil.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 -
kingstreet wrote: »Halifax, NatWest, Barclays, Santander, Nationwide, Chorley, Leeds, Teachers, Mansfield Building Societies.
Yes. You need to ensure you borrow within 4.5x income, your debt to income ratio remains within 45%. If you appear to not need it, you may only get 10%, or nil.
@kingstreet - is the maximum multiplier you can get on your salary 4.5? I earn a decent wedge but have a fairly small deposit, will this prevent me from getting a mortgage for a higher value?
(Sorry for hijacking the thread!)0 -
You can't get what you can't afford.
Work on 4.5X and don't expect any more.
The affordability has to work for the scheme administrators as well as the lender.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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.0 -
Off-topic - this thread is about HTB - Mortgage Guarantee, not HTB - Equity Loan.
Delta452 - 4.5x income is the HTB Affordability Calculator multiple for HTB - Equity Loan and the maximum household debt to income ratio is 45%.
The HCA HomeBuy Agent will not approve a HTB - EL application if it falls outside those parameters - regardless of what a lender will actually lend.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
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