Morning All!
I was a first time buyer and bought myself a new build from Taylor Wimpey on a First Time Buyer Scheme. This scheme was a 5% deposit, 15% equity loan and 80% mortgage
The equity loan is 0% for 10yrs but will have to either be paid off on the 10yr mark or paid back if i sold the house
I am currently on a repayment mortgage with Halifax on a 2yr Fixed 5.7% which is due to finish and go down to the 3.99% variable at the end of June
I was wondering what my options were come end of June. As technically i would be looking for a c78% LTV mortgage but how will they view the equity loan?
If i see a product with Halifax that i could change to and lets say i do not get accepted is there anyway they can review and possibly decline my old mortgage that is still currently running?
Thank you in advance for any help :)
I was a first time buyer and bought myself a new build from Taylor Wimpey on a First Time Buyer Scheme. This scheme was a 5% deposit, 15% equity loan and 80% mortgage
The equity loan is 0% for 10yrs but will have to either be paid off on the 10yr mark or paid back if i sold the house
I am currently on a repayment mortgage with Halifax on a 2yr Fixed 5.7% which is due to finish and go down to the 3.99% variable at the end of June
I was wondering what my options were come end of June. As technically i would be looking for a c78% LTV mortgage but how will they view the equity loan?
If i see a product with Halifax that i could change to and lets say i do not get accepted is there anyway they can review and possibly decline my old mortgage that is still currently running?
Thank you in advance for any help :)