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HTB Deposit question
SA_Gunner
Posts: 11 Forumite
Evening
We're looking to purchase a new build around the 450k mark and intend to fund it partly using the HTB scheme.
We've got approx 130k as a deposit from the equity on our current house. I can't see anything on the HTB website about max deposits but have seen it mentioned on some sites about a max deposit of 25%. We'd have a deposit of approx 28%.
Does anyone have any information on this?
Many thanks!
We're looking to purchase a new build around the 450k mark and intend to fund it partly using the HTB scheme.
We've got approx 130k as a deposit from the equity on our current house. I can't see anything on the HTB website about max deposits but have seen it mentioned on some sites about a max deposit of 25%. We'd have a deposit of approx 28%.
Does anyone have any information on this?
Many thanks!
0
Comments
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"It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
Thank you. Although the scheme is available to home owners as well as FTB. Or am I missing something?0
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You are not missing anything. As long as you are selling your current home, being a homeowner is not a barrier. The scheme is available to all provided at the point of purchase they will own not other property anywhere in the world.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 -
Cheers, any idea on the max deposit??0
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With a 28% deposit, what reason would you have for going help to buy? Just curious - we have just had to use the equity loan scheme, and from the research I did, subject to affordability, the hard limits were on the price of the house (600k) and the equity loan itself (=<20%)0
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Min mortgage is 25%, so max deposit can be 55% if you want a 20% equity loan.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
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Thsnk you. Basically allows us to access a higher bracket in an expensive area.0
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