Help to Buy 2 query (Scotland)

Ecosse_Dave · 22 May 2014 at 7:47PM

I am new to this but I'm looking for some advice on what may be a daft question.

I am preparing to purchase my first property and recently visited a mortgage broker in Glasgow. During our conversation I mentioned the Help to Buy 2 scheme (which gives access to 95% mortgages, 15% of which will be guaranteed by the government) and was advised that this was unavailable when purchasing a flat. As this would be the type of property I will be looking at I took this to mean I was ineligible.

Today, I had a conversation with a work colleague who is purchasing a similar property with her partner. She advised they had secured a 95% mortgage with the government contributing another 5%.

The only thing that I can think of is that, when I was speaking with my broker, I advised that I have a 10% deposit available to me if need be. Would that be why he has instantly crossed that option off the list? Furthermore, if I were to find a property which required repairs would I be able to keep some of my capital back for these works, put the rest towards a 5% deposit and be able to utilise this scheme? Or am I in the seemingly absurd position of having too much money in my account?

I have emailed and left a voicemail with my broker today without response and am unsure where to turn. Any help or advice you can provide would be greatly appreciated.

Apologies for the wordy post.