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Help to buy - higher than 5% deposit
TwentySomethingGirl
Posts: 201 Forumite
Hi
Does anyone know if you can put in more than 5% when using the help to buy equity scheme and still use the 20% loan? We can afford to put in 10% ourselves but would still need the 20% to be accepted for the mortgage affordability, and everything I've found online says a deposit "up to 25%" which implies to me that the equity loan part would decrease with the more you put in.
Thanks in advance for any help
Does anyone know if you can put in more than 5% when using the help to buy equity scheme and still use the 20% loan? We can afford to put in 10% ourselves but would still need the 20% to be accepted for the mortgage affordability, and everything I've found online says a deposit "up to 25%" which implies to me that the equity loan part would decrease with the more you put in.
Thanks in advance for any help
Mortgage £126746 DEC14 £122423.53 DEC15 £115041.70 DEC16 Remortgaged Sep17 to pay off HtB loan £150000 - £140500 JUL19 Moved house Oct19 £230000 £230400 DEC20
0
Comments
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Yes.
Minimum mortgage is 25%, so 55% deposit and 20% HTB Equity Loan is possible.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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