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Help to buy percentages
bangshi
Posts: 1 Newbie
How does the Help to buy percentages work out?
In all the examples they show 5% from you, 20% from the Gov and then 75% from the lender.
Is it correct to assume if you fronted up 10% that the Gov would then reduce their part to 15% and the lender in all scenarios provides 75%?
In all the examples they show 5% from you, 20% from the Gov and then 75% from the lender.
Is it correct to assume if you fronted up 10% that the Gov would then reduce their part to 15% and the lender in all scenarios provides 75%?
0
Comments
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No.
You can choose 10% or 20%. Your deposit does not mean the equity loan will be reduced.
The only stipulation is that you borrow at least 25% of the purchase price.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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