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Help to Buy 5% Mortgage Guarantee
km1705
Posts: 3 Newbie
Hi all,
Having only just found out about the Govenment's Mortgage Guarantee scheme (5% deposit with no shared ownership), I'm all for it. Unfortunately, I noticed on helptobuy.gov.uk that apparently the scheme is due to finish at the end of the year. I won't quite be able to save up the 5% deposit required in that time - does anyone know if this is a definite end for the scheme, or if there has been any indication it will be renewed? I'm not really interested in shared equity/help to buy otherwise, as I'd like to own my first home outright.
Thank you
Having only just found out about the Govenment's Mortgage Guarantee scheme (5% deposit with no shared ownership), I'm all for it. Unfortunately, I noticed on helptobuy.gov.uk that apparently the scheme is due to finish at the end of the year. I won't quite be able to save up the 5% deposit required in that time - does anyone know if this is a definite end for the scheme, or if there has been any indication it will be renewed? I'm not really interested in shared equity/help to buy otherwise, as I'd like to own my first home outright.
Thank you
0
Comments
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Banks might offer their own 95% products, but no real way to tell. Best to speak to a Mortgage Broker to see if there are alternatives.
I've found them to be all well and good on paper, but when you apply they then suck the air through their teeth and ask for 10%.
Best be squeaky clean!0 -
Banks are already offering 95% mortgages outside of the scheme.
The world may change again whilst you are saving your deposit so you may find another situation down the road.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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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