I've been looking into this and I'm a little confused on the setup. My situation at the moment is that I'm looking at a £100k house
Now looking into the help to buy scheme, it states that they will loan 20% of the price of the house, so that takes me down to £80k. Now this is where I'm a bit confused, it states you supply a 5% deposit, which would take me down to £75k although I'd like to pay a 10% deposit, which would bring me down to £70k - is that possible or must it be 5%?
Also, does the inclusion of the 20% loan reduce the amount that a bank would be willing to offer?
Now looking into the help to buy scheme, it states that they will loan 20% of the price of the house, so that takes me down to £80k. Now this is where I'm a bit confused, it states you supply a 5% deposit, which would take me down to £75k although I'd like to pay a 10% deposit, which would bring me down to £70k - is that possible or must it be 5%?
Also, does the inclusion of the 20% loan reduce the amount that a bank would be willing to offer?