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Help to Buy Equity Loan Scheme

Sideburno
Sideburno Posts: 43 Forumite
Part of the Furniture
in Mortgages & endowments
Hi guys,

Looking to purchase a new home with the help to buy equity loan, we have the 5% deposit already (almost, just £700 shy) and have found a new build we want to purchase.

I just wondered about mortgages is there a specific lender and mortgage for these equity loans or do they just go down as a regular 75% LTV mortgage?

Thanks in advance

Comments

  • kingstreet
    kingstreet Posts: 39,439 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Ten lenders accept HTB - EL cases and they have specific products, in the main.
    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.
  • Sideburno
    Sideburno Posts: 43 Forumite
    Part of the Furniture
    Thank you for your reply, when you say in the main what do you mean?
  • kingstreet
    kingstreet Posts: 39,439 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Most have tagged their products "HTB" or "Affordable Housing" while others simply offer their standard product for that LTV band.

    Basically, it varies from lender to lender, so you'll have to ask the ones you are considering.
    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.
  • Sideburno
    Sideburno Posts: 43 Forumite
    Part of the Furniture
    Thank you, I have found Nationwide seems to be offering the best initial rate for us at the moment.
  • ethank
    ethank Posts: 2,197 Forumite
    Holiday Haggler I've been Money Tipped!
    We went with Nationwide.
  • Sideburno
    Sideburno Posts: 43 Forumite
    Part of the Furniture
    ethank wrote: »
    We went with Nationwide.

    Interesting, what mortgage did you go with?
  • ethank
    ethank Posts: 2,197 Forumite
    Holiday Haggler I've been Money Tipped!
    2.44% Fixed for 2 years.
  • Sideburno
    Sideburno Posts: 43 Forumite
    Part of the Furniture
    ethank wrote: »
    2.44% Fixed for 2 years.

    Okay and what does it revert to after 2 years?
  • ethank
    ethank Posts: 2,197 Forumite
    Holiday Haggler I've been Money Tipped!
    3.99% i think.
This discussion has been closed.
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