Ready, steady… save!
You don’t need a chart to join in. Here are 2 ways to record your savings:
1. Cross it off
Pop a chart into your first post. Saved an amount? Cross it out! Read more »
£0.01 £0.02 £0.03
2. Write it down
Skip the chart and add updates to your first post. Read more »
“Another +£3 saved today. Go me!”
Use +£ before each new saving so it counts towards your total.
📨 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!
help to buy mortgage guarantee
hazon
Posts: 18 Forumite
Hi,
I am a first time buyer and have 10% deposit however I have seen somewhere for slightly more (350-360,000). If we were to proceed, it has been suggested using the help to buy mortgage guarantee scheme - has anybody else used this before and how often are applications approved? It would mean approximately 5 - 8% deposit and we have been told our affordability is up to 400,000, we currently have no debt and excellent credit scores.
Thanks
I am a first time buyer and have 10% deposit however I have seen somewhere for slightly more (350-360,000). If we were to proceed, it has been suggested using the help to buy mortgage guarantee scheme - has anybody else used this before and how often are applications approved? It would mean approximately 5 - 8% deposit and we have been told our affordability is up to 400,000, we currently have no debt and excellent credit scores.
Thanks
0
Comments
-
From the applicants point of view the help to buy mortgage guarantee scheme is the same as any other application.
The mortgage guarantee is in place for the lenders benefit to use if they chose to or not.
Which lender did you have your affordability checked with?I 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
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 355.9K Banking & Borrowing
- 255K Reduce Debt & Boost Income
- 456.2K Spending & Discounts
- 248.4K Work, Benefits & Business
- 606.1K Mortgages, Homes & Bills
- 179K Life & Family
- 263.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.7K Read-Only Boards