Hoskin Mortgages

Help to Buy

What is help to buy: mortgage guarantee?

Following the financial crisis, many credit-worthy people are finding it difficult to get a mortgage today because of the large deposit required. To help address this issue, the Government has created Help to Buy: mortgage guarantee scheme to increase the number of low-deposit mortgages available for credit-worthy households.

Launched in October 2013 but not available until the 2nd January 2014, the Treasury has offered three different bands of guarantee for different Loan to Value (LTV) amounts:-

  • 80% – 85%
  • 85% – 90%
  • 90% – 95%
Specific criteria will apply in order to gain eligibility:-
  • You will be planning to live in your house and not rent it out (it will be your main residence)
  • You cannot own any other property, in full or part
  • The property must be in the UK
  • You and any joint applicant must be over 18
  • The purchase price or valuation must be no more than £600,000
  • You have a deposit of at least 5% but less than 10%
  • The mortgage can only be taken out on a capital and interest repayment basis only
  • The mortgage must be to buy your only property so you cannot use it to buy a second or further home
  • The mortgage cannot be for a shared equity or shared ownership purchase
  • You and any joint applicant are able to meet the governments affordability criteria
  • You and any joint applicant are able to meet underwriting criteria such as an acceptable valuation and proof of income etc
  • The scheme is available to existing homeowners and first time buyers and can used to purchase a new build or existing home.

But before you contact us why not checkout some of our customer feedback below:

For more customer feedback please visit our Feedback page.

“I would like to thank you for all your brilliant work dealing with this matter – you have been superb.”
M & H J from Latchingdon, Maldon, Essex.

“I would like to say thanks for helping to sort the re-mortgage. It was a pleasure and thank you for being so efficient and on top of everything.”
K & I G from Ware, Hertfordshire.

“An excellent and professional service.”
C & K M from St Lawrence, Maldon, Essex.

Get in Touch

Please, fill in the following fields:

  • Name
  • Email Address
  • Phone
  • Message

Copyright © 2012 – 2017 Hoskin Financial Planning – Independent Financial Advisers – Maldon, Essex, England Hoskin Financial Planning Ltd is registered in England & Wales number 8759448. Hoskin Financial Planning Ltd is authorised and regulated by the Financial Conduct Authority number 613005. The guidance and/or advice contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK. Your home may be repossessed if you do not keep up repayments on your mortgage.