Future of 95% mortgages??

wantahouse

Am getting increasingly worried about what is going to happen when the help to buy scheme ends in December.
My husband and I are hoping to get a mortgage with a 7% deposit in January/February and I'm getting really worried that all the 95% will be pulled by the banks

Thrugelmir

There's sufficient capacity in the market now to meet demand. Hence why the scheme is being withdrawn. The scheme was originally introduced as there wasn't.

wantahouse

So do you think they will still be around next year then?? It feels like it's taken forever to get to this point

Thrugelmir

wantahouse wrote: »

So do you think they will still be around next year then?? It feels like it's taken forever to get to this point

Unless there's regulation introduced banning them. Then mortgage lenders will continue to offer them as a product. The GFC was in 2008, 8 years ago. Estimated that there's still 10 years to go before things will be considered normalised. If that puts time into perspective. Out of sight doesn't mean that there's not ongoing work still.

Neutrinno

wantahouse wrote: »

So do you think they will still be around next year then?? It feels like it's taken forever to get to this point

They will, I really wouldn't worry about it.

rtho782

There are already 95% mortgages around that don't use the Help 2 Buy Mortgage Guarantee scheme, this will make no difference.

greyroofer

The difference is important to understand:

1. HTB mortgage guarantee means you are more likely to get a mortgage at 95%

2. If you're trying for a 95% mortgage, this can be difficult if you're not squeaky clean.

r192

Plenty of lenders offering 95% mortgages. Just have a look on the company's sites.