Deposit question

cee_101

Hi.
I’m a first time buyer.
I have a 15% deposit for my new build home currently (also hoping to use 20% help to buy)
The house hasn’t been released just yet, my question is, do the mortgage lenders only look at the deposit you currently have at the time of application or could they take in to consideration what you would have at the time of completion.
Thank you in advance 🙂

Cvarley78

I have been wondering similar lately as we are hoping to reserve a new build around August for completion in Jan or Feb 2022. We will have enough to pay 10% deposit at the point of exchange and at a push, could evidence the funds for a further 5% which would be paid at completion 6 months or so later. However, in that 6 month period, we will be continuing to save to cover legal fees and stamp duty. Hopefully the evidence of how much we are currently saving each month would be sufficient evidence that we will comfortably have the required funds by completion.

[Deleted User]

Your solicitor will likely want sight of the full stated deposit prior to exchange of contracts. With a new build that might ve within 4-6 weeks after offee

Mortgage wise,  some lenders want to see all of it and some dont request proof of deposit.  And some will be happy to see most of it and a track record of saving that indicates it will be available prior to exchange