Help To Buy Question

Quanz2

I’ve been having a look at new build housesunder the Help To Buy scheme Everything I can see about it talks about having a5% deposit and the government will take a 20% stake in the property, but areyou allowed to have a stake larger than 5%. My situation is that I have about 50kof equity in my current property, but have been advised I could get a mortgage upto 100k, I was looking at a new build for £180k. So would it be possible to getthis house using a mortgage of just under 100k, 50k from by current properties saleand 36k from the government? Im in Scotland if that makes a difference.

thanks in advance

amnblog

H2B is not designed for you Quanz.


If you don't need the scheme you don't get on the scheme.

kingstreet

In England, the minimum deposit is 5%, but the only stipulation is you must borrow at least 25% of the purchase price, so any level of deposit which permits that is acceptable.

Can't comment on Scotland though.