Is a 80% mortgage on HTB possible?

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dush_yant
dush_yant Posts: 20 Forumite
in Mortgages & endowments
Hello all,
I am planning to put a 10% deposit and get another 10% from help to buy, which will bring the loan value from the mortgage lender to 80% - is this possible? All the documentation I have read so far seems to indicate that the loan value must be 75% or less?
Thanks

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  • kingstreet
    kingstreet Posts: 38,767 Forumite
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    From the HTB Buyer's Guide;-

    "This mortgage, together with any cash contribution from you, must be a minimum of 80% of the full purchase price."

    It doesn't say anywhere the maximum mortgage is 75%

    IIRC there is only one lender with HTB products for over 80% so you might have to work to find an 80/10/10 product.
    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.
  • dush_yant
    dush_yant Posts: 20 Forumite
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    kingstreet wrote: »
    From the HTB Buyer's Guide;-

    "This mortgage, together with any cash contribution from you, must be a minimum of 80% of the full purchase price."

    It doesn't say anywhere the maximum mortgage is 75%

    IIRC there is only one lender with HTB products for over 80% so you might have to work to find an 80/10/10 product.

    Thanks. It seems like Barclays it is based on their public website. However TSB seem to be offering 80% LTV for HTB via brokers, but I can't see TSB listed on the gov webpage of approved HTB providers...
  • kingstreet
    kingstreet Posts: 38,767 Forumite
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    I've just tried to source HTB at 80% on Mortgage Brain and am getting five lender options.

    None of them is Barclays or TSB.
    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.
  • dush_yant
    dush_yant Posts: 20 Forumite
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    kingstreet wrote: »
    I've just tried to source HTB at 80% on Mortgage Brain and am getting five lender options.

    None of them is Barclays or TSB.

    Thanks again. Reassuring to see that there is a number of lenders offering it.
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