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help to buy mortgage guarantee
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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
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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
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