Halifax has revealed it will be launching new products for mortgage applications up to 95% Loan To Value (LTV), to support the Government Mortgage Guarantee Scheme on Monday 19 April 2021.
This will be available to first-time buyers and home movers for mortgage purchase applications, but not for remortgages.
The main details shared by the lender are:
With the maximum loan amount, is available for loans >90% up to 95% LTV, a minimum 5% personal deposit is required above 95%.
New builds are not included and neither are "second home" solutions or Buy to Let mortgages.
Halifax has made it clear an enhanced credit score requirement will be applied to any application on this scheme.
Contact us to find out more.
The information provided in this article is not intended to constitute professional advice and neither is it a recommendation. You should take full and comprehensive legal, accountancy or financial advice as appropriate on your individual circumstances by a fully qualified Solicitor, Accountant or Financial Advisor/Mortgage Broker before you embark on any course of action.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE.
For expert mortgage advice for first-time buyers, contact us now:
Shak Inayat | 073 76 76 73 44
Penn Financial | 0333 34 44 34 8