We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Want to become a Forum Ambassador? Visit the Community Noticeboard for details on how to apply
Help to buy query/clarification
Jamesjames
Posts: 41 Forumite
I am new to this site and I posed this query somewhere on the site but I can't seem to find it. So, apologies if you are reading it again.
I need clarification please regarding the help to buy scheme.
I have read on their website that " the property you are purchasing could be an existing or new-build home in the UK, priced up to £600,000".
However, on speaking to my mortgage adviser, he said "to qualify, the property has to be a new build".
Is this the case?
I have a deposit of about %20 and was considering getting an additional %10 from the govt help to buy scheme to make my deposit about %30.
Anyone used to this scheme here, to throw more light on this please ?
Thanks.
I need clarification please regarding the help to buy scheme.
I have read on their website that " the property you are purchasing could be an existing or new-build home in the UK, priced up to £600,000".
However, on speaking to my mortgage adviser, he said "to qualify, the property has to be a new build".
Is this the case?
I have a deposit of about %20 and was considering getting an additional %10 from the govt help to buy scheme to make my deposit about %30.
Anyone used to this scheme here, to throw more light on this please ?
Thanks.
0
Comments
-
You are talking about Help To Buy - Equity Loan, which is newbuild only.
Help To Buy - Mortgage Guarantee which is for second hand property only applies to those with a deposit of upto 9.9%.
The latter has no equity loan.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
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.9K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 246.9K Work, Benefits & Business
- 603.5K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards