First Post - HTB Mortgage Question

R.G

Hello everyone,

First post and really hoping some of you could answer my question please.

My wife and I purchased our first house a couple of years ago via the HTB mortgage guarantee scheme via our mortgage broker (chose Natwest with a 5% deposit - 95%LTV)
Since purchasing our house we have built equity through what we've paid on payments plus a healthy increase in property values in our area.

Can I make the assumption that when our fixed term comes to an end, we can re-mortgage with any lender? Obviously HTB part 2 will not be around anymore beyond the end of this month.

We will be looking for no more than 80% LTV so should have a decent range of banks to choose from.

Thank you in advance and apologies if this has already been asked previously.

glosoli

Are you looking to repay the equity loan in full? Remember that if your house value has went up, then the size of the equity loan will have risen accordingly.

R.G

Hello,

Thanks for responding.

As the title says - HTB mortgage guarantee. I don't have the equity version - I simply have the mortgage guarantee version, so my mortgage was for 95% LTV, with no government loan.

Within my mortgage agreement documentation it states that the mortgage automatically reverts back to NatWest's standard variable rate when my fixed rate term ends.

Presumably, when that happens I can then simply re-mortgage anywhere I wish with a non-HTB mortgage?!

That's what I was asking, essentially.

I'm pretty sure I'm answering my own question, but if anyone can confirm it would be much appreciated!

Thanks

amnblog

The Mortgage Guarantee scheme impacts on the Lender and their position, not on you or your property.

Therefore you can remortgage with a standard product. (no new H2B Mortgage Guarantee products with be available by Monday in any case).

R.G

Hi,

Thanks for your post. Yes that's what I thought, but wanted to double-check.

Thank you