Help to Buy - maximum deposit

alligator18

Hello,

Does anyone know the maximum deposit you can use for Help to Buy? Some of the calculators specify 30K is the max, whereas others go much higher.

We want to put down a 50K deposit (18%) for a 275K house. That would mean a help to buy loan of 55K (20%), and a mortgage of 170K (62%).

I'm finding conflicting information on the web, and just wanted to check on this forum.

Thanks!

Paulaviki

If you have an 18% deposit in not sure you'd need to use HTB? Might be worth seeing a mortgage advisor and making sure it's the best option. I only have a small deposit and the HTB mortgage rates aren't great. You might get a better deal elsewhere with that sort of LTV.

kingstreet

Are you buying a newbuild?

There is only one calculator and that is provided by the HCA. It stipulates no maximum deposit, only the mininum.

As long as you borrow more than 25% of the purchase price, you can put down as much deposit as you like.

Just remember when you repay it, that equity loan is 20% of the property value at the time, not what you got at the outset!