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Help to buy mortgage guarantee

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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

Comments

  • betmunch
    betmunch Posts: 3,126 Forumite
    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.
  • hazon
    hazon Posts: 18 Forumite
    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?
    Thanks
  • betmunch
    betmunch Posts: 3,126 Forumite
    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.
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