Property News · June 1, 2017

Is a 10% deposit enough to get a mortgage on a new-build house?


We’ve been advised to look into the help-to-buy scheme to boost our deposit but we’re not sure if that’s our best optionQ My partner and I have put our names down for a new-build property in north-west England, with the completion date in November or December. We expect to get a valuation of the property in July, which should be about £152,000 for a small two-bedroom house.By the time we are due to apply for a mortgage we reckon we would have saved enough to put down a cash deposit of 10% of the value of the property. However, we have been advised to look into the 20% help-to-buy scheme due to some lenders not offering mortgages for new-builds where there is only a 10% deposit. Continue reading…

Source : theguardian.com
Read more…Is a 10% deposit enough to get a mortgage on a new-build house?

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