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help to buy scheme advice?
Comments
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Just looked this up again. the maximum you can borrow is 20% with a 80% mortgage (5% deposit). In London it is different and you can borrow up to 40% with a 60% mortgage0
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Just looked this up again. the maximum you can borrow is 20% with a 80% mortgage (5% deposit). In London it is different and you can borrow up to 40% with a 60% mortgage
I am doing this right now with a 10% deposit.
The T%C's state that 80% must be made up of 5% minimum deposit and mortgage. It does not give an upper limit.
HTB London has not started and will start early Feb.0 -
I'm referring to the often claimed impact that the scheme is making prices rise quicker my artificially. My point is that similar schemes have been available privately which using the same logic would also cause prices to increase.They did, but it didn't matter too much as they used their own money. Schemes these days are backed and paid for by the tax payer....
My personal view re: taxpayers is that they ultimately are potentially on for a good thing long term.
Case in point: I bought new build off plan last January for £275k. Estate is now finished and an equivalent house type from the start of the development in a worse location has come on the market at £325k (which to be fair I feel is overpriced). However, if that was a help to buy original purchase at the price I paid the government lent £55K. If this property sold now for £325k, the government would get back £65k. Not a bad return I don't think?0
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