We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
mortgage help
antbann
Posts: 163 Forumite
Hi
Im requesting help, im unable to afford a new build deposit of 25%, I have a house, would I be able to part exchange my house for a new build with help to buy.
Im requesting help, im unable to afford a new build deposit of 25%, I have a house, would I be able to part exchange my house for a new build with help to buy.
0
Comments
-
No. HTB - Equity Loan, which I assume is what you mean, does not allow part exchange. You can go for an assisted sale. Talk to builders about the difference.
You don't need a 25% deposit for a newbuild house. There are lenders who will offer upto 90%. Many will go above 75%. I guess you've picked a lender with a low maximum LTV for newbuild. NatWest, perhaps?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: »No. HTB - Equity Loan, which I assume is what you mean, does not allow part exchange. You can go for an assisted sale. Talk to builders about the difference.
You don't need a 25% deposit for a newbuild house. There are lenders who will offer upto 90%. Many will go above 75%. I guess you've picked a lender with a low maximum LTV for newbuild. NatWest, perhaps?
Hi
No it was halifax I was lookkng for, thanks for the response.
Can you advise best lender to go with for a 90% ltv0 -
Halifax normal newbuild max LTV is 80%, not 75%, for both houses and flats, but they do have higher LTV deals with some builders/brokers.
We don't supply lender names on here. Consult a whole market broker near you and get formal recommendations, based on your circumstances.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
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.2K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards