Here is some important information on Help to Buy Mortgage Guarantee schemes, which is being provided by the HM Government.
What is Help to Buy Mortgage Guarantee?
Many credit-worthy people are finding it difficult to get a mortgage today because of the large deposits needed following the financial crisis. To help address this, the Government has created the Help to Buy: mortgage guarantee scheme to increase the number of low-deposit mortgages available for credit-worthy households.
How does Help to Buy Work?
Under the scheme, the Government offers mortgage lenders the option to purchase a guarantee on mortgages, where a borrower has a deposit of between 5% and 20%. Because of this support, NatWest are able to offer more mortgages to borrowers with small deposits.
How could Help to Buy Benefit Me?
If you can afford to repay a mortgage but don’t have a large deposit, this scheme will benefit you by giving you access to low deposit mortgages. This means you won’t have to wait and save up for a large deposit to buy or move home.
Does the Help to Buy Scheme Guarantee my Payments?
The scheme does not guarantee your payments. You are responsible for paying your mortgage under this scheme in exactly the same way as any other mortgage.
Are You Interested in the Help to Buy Mortgage Guarantee Scheme?
If you are interested in the Help to Buy Mortgage Guarantee Scheme or would like further information please contact us today by email or telephone 01743 364377