How do I get a Help to Buy mortgage?
The Help to Buy scheme was introduced by the Government in 2013 and since this time has helped thousands of people realise the reality of owning their own home however, where do you start in regard to getting a Help to Buy mortgage. Firstly, not all lenders participate in the Help to Buy scheme so you need to find out who does, and those that are involved offer specific products outside their usual mortgage schemes. As with all residential mortgages, the amount you need to borrow has to be assessed as affordable by the lender but for a help to buy mortgage, this also needs to be checked by the Help to Buy agent. In general terms applying for a mortgage for a Help to Buy purchase is the same as any other however, you just need to ensure that both parties have agreed the loan amount based on affordability. A good broker will assist you in your journey and also offer to complete the Help to Buy agents application with you.