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combine schemes
rafhelp
Posts: 365 Forumite
if you found a house for say £75K on shared ownership. You pay rent on part of it and mortgage on your shared portion.
But to get the mortgage would you be able to apply for the Help to buy scheme to be eligible for a 5% deposit on the mortgage?
This is for first time buyers.
But to get the mortgage would you be able to apply for the Help to buy scheme to be eligible for a 5% deposit on the mortgage?
This is for first time buyers.
Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
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I doubt it very much0
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There are a very limited number of 95% LTV of share products on the market - just happen to have researched one case (although we normally do very little shared ownership business) but not necessarily under the HTB2 guise.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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You can't combine shared ownership and Help To Buy.
You aren't permitted to benefit from two lots of Government help/money in one transaction.
There are a couple of lenders who will lend 95% on SO, even on newbuild so you may wish to discuss this with a whole market broker as they are not high street nationally.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 -
KS is right but Raf has to win idea of the week.
It is good news that Grant Shapps has moved on or he might have picked that one up.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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 -
kingstreet wrote: »You can't combine shared ownership and Help To Buy.
You aren't permitted to benefit from two lots of Government help/money in one transaction.
There are a couple of lenders who will lend 95% on SO, even on newbuild so you may wish to discuss this with a whole market broker as they are not high street nationally.
Leeds is one who are the others please?Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
How did you find out about Leeds, your own research or via the broker you plan to cut out of the arrangement of your mortgage?
https://forums.moneysavingexpert.com/discussion/5178828
I'm sure it was the former, and your research skills are sufficiently developed to enable you to find the other.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 -
We own a Shared Ownership House and got a mortgage with a 5% deposit. It is with Leeds Building Society and we used a IFA to sort it out as S/O mortgages are few and far between and getting one with a 5% deposit is even harder.
Oh and as far as you trying to do it without an IFA - I personally wouldn't. Ours was brilliant and any issues that came up he sorted out as S/O isn't always entirely straight forward, its worth the cost.0
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