Are all 95% mortgages a Help to Buy?

yessuz

Hi,

I am buying with 95% LTV.
Now, I am in process and a bit anxious when we will finish.

Now, when I went to helptobuy.gov.uk , i found this:

The Help to Buy: mortgage guarantee scheme will run until 31 December 2016.


Now, here's a question - are all 95% LTV mortgages a Help To Buy? for example Santander, etc?
also, the date of 31st of December - has it to be the latest day for mortgage acceptance or exchange of contract or what?

ACG

Not all 95% mortgages are Help to buy, however when HTB is pulled at the end of the year nobody knows what knock on effects that will have. Will lenders be happy to do 95% without the HTB scheme? If not, will that filter through to the smaller lender who do 95% LTV but without HTB? Can they handle the volumes that the high street lenders can?

yessuz

that sound worrying now.

ok, then the last date - 31st of December - what it applies for?
is it for a contract exchange?
is it for mortgage application and acceptance?

minimike2

I think different lenders will have their own rules on timelines, but the 31st December deadline is for applications. GOV currently has the end of March 2017 as a deadline for completion, although this may change.

yessuz

many thanks for the clarification!

stator

Santander, TSB and Nationwide all offer 95% outside of HTB.