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Help to buy mortgage guarantee
hazon
Posts: 18 Forumite
Hi has anyone applied for a 95% mortgage with help to buy mortgage guarantee? How did you find the process and which lender did you use?
Thanks
Thanks
0
Comments
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The process for HTB - MG is the same as any standard mortgage application as far as the applicant is concerned. The benefit of the guarantee is for the lender.
Did you have a specific concern?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 -
Hi, I just wondered if they tend to have stricter criteria for lending compared to applying with a larger depoist and how far back do they tend to look?
Thanks0 -
The criteria is stricter, and some lenders will ask for more info/documents than they would with a low LTV.
They still go back the same 6 years as every other mortgage, but small blips are more damaging as lenders offering 95% loans are more nervous than when they are offering lower LTV.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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