Help to buy question

love2love_x

Hi I've been looking in to help to buy, I am just struggling to find any information or Ltv rates.
If you are putting 5% in, help to buy 20% is the mortgage ltv rate for the 75% mortgage classed as 75% or 95%

Thank you

jordanw_2

Good Evening,

You'd be looking at a 75% LTV but will obviously be required to disclose the HTB scheme providing a 20% loan and all the repayments required as a result.

Source:
https://www.gov.uk/affordable-home-ownership-schemes/help-to-buy-equity-loans

http://www.helptobuy.org.uk/equity-loan/equity-loans

love2love_x

Thank you, the difference in rates for 75% ltv and 95% ltv make it worthwhile then

jordanw_2

You're likely to get slightly higher rates than someone raising a 25% from savings just due to the scheme. Most lenders calculators don't account for Help to Buy which was explained to me by my mortgage advisor at Halifax.

Although one of the advisors on here will be far more knowledgable that myself.

Having said that, it'll still make a massive difference to your monthly payments

amnblog

Surprised you cannot find any information.

We have both an explanatory video and the Help to Buy information guide on our website so the information is out there.

love2love_x

There was a lot of information but I couldn't find confirmation that the bank would charge 75% ltv not 95% ltv. I must have missed it.

kingstreet

Most lenders have specific HTB - Equity Loan, or Affordable Housing products for HTB - EL borrowers. In only one case can you simply pick from the 75% LTV products.