Lenders that are still offering Help to Buy Mortgages? Application already submitted before Deadline

James831

Hi there,

I have secured a Barclays HTB interest rate of 5.04% and I am just awaiting my mortgage offer after my valuation was done - the final stage.

However, I have been doing some more research today for other interest rates as I heard through the grape vine these have gone down - obviously I wouldn’t want to start from scratch again because I’m at the final stage. But I’m seeing other lenders offer First time buyer rates approx 4.5% fixed - which is a lot better than my 5.04% rate. Bare in mind mine is a Help to Buy Application.

I checked out Barclays and their HTB best rate is the one I got at 5.04%. Do you know what other lenders are still doing HTB mortgages? As I said I can see lots of cheaper rates with Halifax, Santander etc but it doesn’t say whether or not these are eligible under Help to Buy.

Any advice? Thanks!!

JMA74

yes a few lenders still have products in this area.   Natwest for instance have specific products for it, as do Halifax.  

https://www.intermediary.natwest.com/content/dam/natwest_com/Intermediary/NWIS_Rates/2023-01-10NewBusinessSRFINAL.pdf   (page 2)

https://www.halifax-intermediaries.co.uk/assets/pdf/mortgage-guide.pdf  (page 11)

Did you have a broker submit your Barclays one?  They should be able to advise on this. 

kingstreet

Be very, very careful here.

The HTB Agent will get a copy of any new offer from your solicitor and will test the HTB affordability calculator using the SVR from that offer.

If the SVR has increased due to base rate rises, you may get a lower fix but end up having to increase your deposit because you fail HTB affordability.

For example, in August a Barclays offer had an SVR of 5.24% on one of our HTB cases. Now, it's 6.99%.