HSBC / Help to Buy

MPERSON · 6 June 2016 at 6:25PM

Hi all,
Does anyone have any info on the types of rates that HSBC offers for Help to Buy Mortgage Guarantee mortgages? We would have a 5% deposit and looking to borrow around £375,000.

The website mentions that they are part of the scheme, but all the mortgages detailed on their website require a minimum 10%, and their affordability calculator never lets you go below 10%. Their calculator says we could borrow £410k, with 10% deposit. I called their mortgage line, but they said that the HTB details are only available in branch, via an appointment with a mortgage specialist.

I do bank with HSBC and have a good credit history with them, but I moved a couple of years ago and the nearest branch is quite far away. Of course, I would need to go there at some point, but it would be good to get an idea of rates etc beforehand. Or are they just the same mortgages as outlined on the website, but with a reduced deposit required?

I recently got an AIP with Halifax of £445,000 for 10%, with a mention of reducing the deposit with HTB. They do detail the HTB mortgages on their website, but they are all over 4%, so I was wondering if HSBC might be any better (or any alternative lenders perhaps?).
FWIW credit scores are experian - 986, Noddle - 640, clearscore - 507. I know they don't necessarily mean much.

Thanks very much in advance for any advice.