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Help to buy with 20% deposit
truggs
Posts: 3 Newbie
Hello,
I was wondering if someone could enlighten me if this is possible and which mortgage provider to go with
I'm in the process of purchasing a £300,000 house on a new build site.
I can use the help to buy but I already have a £60,000 deposit
Would I be able to do the following -
£60,000 equity loan
£60,000 deposit
£180,000 mortgage
HSBC have given me an offer in principle of £205,000 so am I right in assuming getting the £180,000 wouldn't be to much trouble?
Would anyone be able to point me in the right direction of lenders who would do this?
Thank you in advance!
Daniel
I was wondering if someone could enlighten me if this is possible and which mortgage provider to go with
I'm in the process of purchasing a £300,000 house on a new build site.
I can use the help to buy but I already have a £60,000 deposit
Would I be able to do the following -
£60,000 equity loan
£60,000 deposit
£180,000 mortgage
HSBC have given me an offer in principle of £205,000 so am I right in assuming getting the £180,000 wouldn't be to much trouble?
Would anyone be able to point me in the right direction of lenders who would do this?
Thank you in advance!
Daniel
0
Comments
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Hello,
I was wondering if someone could enlighten me if this is possible and which mortgage provider to go with
I'm in the process of purchasing a £300,000 house on a new build site.
I can use the help to buy but I already have a £60,000 deposit
Would I be able to do the following -
£60,000 equity loan
£60,000 deposit
£180,000 mortgage
HSBC have given me an offer in principle of £205,000 so am I right in assuming getting the £180,000 wouldn't be to much trouble?
Would anyone be able to point me in the right direction of lenders who would do this?
Thank you in advance!
Daniel
Quick google search:
https://www.helptobuy.gov.uk/equity-loan/equity-loans/"It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
HSBC aren't signed up with the equity loan scheme so you'd need a different lender.I am a Mortgage AdviserYou 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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Hi,
Yes I'm aware of the website but it doesn't state the information that I was hoping for. Hence why I asked on MSE....0 -
I also know HSBC aren't signed up to it, once again why I asked on MSE for other lenders who will allow the equity loan with MORE then 5% deposit...0
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All the lenders who support the HTB Equity Loan scheme will allow a deposit greater than 5%.
No. Sorry, I can't point you in the direction of lenders.I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.0 -
0
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