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Persimmon homes Deposit Contribution
Mrsmartin84
Posts: 1 Newbie
We are looking to buy a home at the end of the year, however the only thing we need is our deposit which we are hoping to have by then, however... we have noticed on development where we live, persimmon, are offering £14000 towards your deposit (which would be the full 5% deposit we need) as part of a special offer on one of there home, happens to be the one we are considering.
We would be going down the HTB route, has anyone bought a persimmon house with a similar offer re them contributing to your deposit. Im wondering if this is a route we could do if we havnt got any deposit yet or do we still need to have a deposit? if so this would mean we could buy our home sooner
sorry to sound silly its all a bit confusing for a first time buyer.
We would be going down the HTB route, has anyone bought a persimmon house with a similar offer re them contributing to your deposit. Im wondering if this is a route we could do if we havnt got any deposit yet or do we still need to have a deposit? if so this would mean we could buy our home sooner
sorry to sound silly its all a bit confusing for a first time buyer.
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Comments
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I was hoping someone may have answerd you because we are in a similar boat.
Wear hoping to part exchange with persimmon and need a fair value for our house. They said they wouldnt offer more or reduce the price of their house if both ends dont meet. I was wonderng if instead they would ofer aybe a 5% deosit contribution0 -
when you apply for a mortgage you will need the deposit then, lenders only go on the now and not the future. Without a deposit now to exchange you will find it difficult to source a mortgage offer"It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
You will still need to have the 5% deposit from your own savings.
A cash incentive from the builder will help lower your mortgage repayments but you will need the 5% to be raised by you to qualify for the H2B.
We recently bought our house through H2B and our developer told us they can give us extras such as legal fees and flooring but they can't contribute to the 5% deposit as H2B don't allow it.
Hope this helps
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Yip. Min 5% deposit needed on top of any builder cash incentives.You will still need to have the 5% deposit from your own savings.
A cash incentive from the builder will help lower your mortgage repayments but you will need the 5% to be raised by you to qualify for the H2B.
We recently bought our house through H2B and our developer told us they can give us extras such as legal fees and flooring but they can't contribute to the 5% deposit as H2B don't allow it.
Hope this helps
Suggest reading the HTB Buyer's Guide here;-
https://www.helptobuy.gov.uk/wp-content/uploads/Help-to-Buy-Buyers-Guide-Feb-2018-FINAL.pdfI 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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