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MSE News: Help to Buy 95% mortgages launch today: What are the deals like?

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  • kingstreet
    kingstreet Posts: 38,857 Forumite
    First Anniversary Name Dropper Photogenic First Post
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    Me neither. As I've said elsewhere, if you can get a 95% mortgage now, you would have got one two weeks ago, from one of the 13 lenders offering them up and down the country.
    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.
  • VfM4meplse
    VfM4meplse Posts: 34,269 Forumite
    Combo Breaker First Post I've been Money Tipped!
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    Can I ask an obvious question?

    What is to stop people using the scheme for second homes and generating a rental income on their first property?
    Value-for-money-for-me-puhleeze!

    "No man is worth, crawling on the earth"- adapted from Bob Crewe and Bob Gaudio

    Hope is not a strategy :D...A child is for life, not just 18 years....Don't get me started on the NHS, because you won't win...I love chaz-ing!
  • adamck
    adamck Posts: 87 Forumite
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    Its a clause in the scheme, it has to be a home you are going to live in and cannot be a second home or property.
    You will have to sign a declaration to this effect, if you bought a second home during the 7 year period of the scheme you will probably be breaking the law or will get a large fee.
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