Hi,
I'm looking into buying a new build property in my area.
I'm unsure how a mortgage works with a new build or how to go about getting one. Someone said to me that I'll need a 40% deposit??? Also the builders have said I have to pay a 5% deposit to them, so is that on top of any deposit I'm required to pay the mortgage company?
Sorry if this is really basic questions but any help would be much appreciated.
I'm looking into buying a new build property in my area.
I'm unsure how a mortgage works with a new build or how to go about getting one. Someone said to me that I'll need a 40% deposit??? Also the builders have said I have to pay a 5% deposit to them, so is that on top of any deposit I'm required to pay the mortgage company?
Sorry if this is really basic questions but any help would be much appreciated.