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Help to Buy
Chiefee
Posts: 1 Newbie
Hi,
My wife and i are looking at applying for a help to buy mortgage.. Does anyone know if the amount they are willing to lend you is less than if bought on the open market?
Also which banks has the best acceptance rate?
My wife and i are looking at applying for a help to buy mortgage.. Does anyone know if the amount they are willing to lend you is less than if bought on the open market?
Also which banks has the best acceptance rate?
0
Comments
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Yes it is.
Affordability is capped at 4.5 x income and the future cost of the equity loan is taken into account by lenders, usually at 3% or 4%.
You have to satisfy the Government's as well as lender affordability requirements.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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