Halifax have just announced some info about their Help To Buy 95% LTV mortgages…
The new Help to Buy products will be launched under a new scheme called ‘Homebuyer Special’. Homebuyer Special products will include a 2 year fixed rate priced at 5.19% with a £999 fee, available to both first time buyer and homemover customers with just a 5% deposit. Key info:
- The scheme is open to first time buyer and homemover customers.
- It can be used for existing properties up to a maximum purchase price of £600,000 in the UK (England, Wales, Scotland and Northern Ireland).
- New Build properties over 90% LTV will continue to participate in the New Buy/MI New home schemes.
- Applicants must not own or have an interest in any other property, wherever situated (UK or overseas) or whether mortgaged or unencumbered.
- Customers must be purchasing for their own occupation.
- Remortgages, Buy to Let, second homes, shared equity/shared ownership, Right to Buy and Guarantors are not eligible for the scheme.
- The scheme does not change or reduce a customer’s responsibility in any way. They are responsible for paying their mortgage in exactly the same way as any other customer.
- Lending into retirement applications are not eligible for the scheme.
- Customers will be able to complete their Homebuyer Special mortgage this year.