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First time buyer HELP!
JoWishy
Posts: 4 Newbie
Hello,
My partner is looking to purchase our first house, he wants to get the mortgage for this house by himself. He is in the Army and has a really good income. We are ideally looking at utilizing the help to buy scheme but HSBC who he banks with aren't doing the scheme yet. I think he thought this would be easier than this. What is the best way to go about getting a mortgage. He is obviously freaking out a bit with the amount of money he is spending (£260,000). He has a really good deposit to put down. Does anyone have any advice for us? We have found the house we want and are hoping to put an offer in really soon so need to get this sorted asap.
Please help us through this minefield!
My partner is looking to purchase our first house, he wants to get the mortgage for this house by himself. He is in the Army and has a really good income. We are ideally looking at utilizing the help to buy scheme but HSBC who he banks with aren't doing the scheme yet. I think he thought this would be easier than this. What is the best way to go about getting a mortgage. He is obviously freaking out a bit with the amount of money he is spending (£260,000). He has a really good deposit to put down. Does anyone have any advice for us? We have found the house we want and are hoping to put an offer in really soon so need to get this sorted asap.
Please help us through this minefield!
0
Comments
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Is this a newbuild and the HTB Equity Loan scheme?
AIUI HSBC is offering HTB - Mortgage Guarantee products, but does not and never has offered products on shared equity.
If he has "a really good deposit" why does he need the HTB scheme?
What exactly do you want to know?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 -
Is he using the forces help to buy loan? I'm in the process of buying a house using this scheme, currently only 2 lenders are lending in conjunction with FHTB. Halifax and NatWest.0
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He wants to use everything available to ensure he puts the biggest possible deposit down to make it quicker to pay off at more reasonable monthly payments.
The house isn't classified as a new build but has effectively been re-built. As far as I am aware, old house qualify for HTB too?
I am a newbie so don't understand what AIUI means. Sorry!
I suppose I basically want to know who is the best bank to go with to get the HTB mortgages. More so because he is a single applicant.
I don't think I also understand the difference between an equity mortgage and HTB
Sorry I am such an amateur0 -
If the house has recently been rebuilt, it'll be classed as new build.He wants to use everything available to ensure he puts the biggest possible deposit down to make it quicker to pay off at more reasonable monthly payments.
The house isn't classified as a new build but has effectively been re-built. As far as I am aware, old house qualify for HTB too?
I am a newbie so don't understand what AIUI means. Sorry!
I suppose I basically want to know who is the best bank to go with to get the HTB mortgages. More so because he is a single applicant.
I don't think I also understand the difference between an equity mortgage and HTB
Sorry I am such an amateurI am a mortgage adviser.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.0 -
Ah okay thanks, I don't think it overly matters about the new build as they offer HTB on old properties too.. I think he is going to call Halifax in the morning. Thanks Kened0
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No problem, good luck.0
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