Aldermore supports the Government's Help to Buy: mortgage guarantee scheme, which enables participating lenders to purchase a guarantee, enabling us to provide mortgages up to 95% loan to value.
The scheme aims to help both first time buyers and home movers who have deposits of at least 5% to buy a property in the UK.
So, if you can afford to repay a mortgage but don't have a large deposit, this scheme could be the answer. It gives you access to higher loan to value lending, meaning you won't have to wait and save up for a large deposit to buy or move home.
To be eligible for the Help to Buy: mortgage guarantee scheme:
- it must be your main residence and only dwelling (you will not be intending to rent it out);
- you cannot have an interest in any other property, anywhere in the world;
- the mortgage must be taken out on repayment (not interest only); and
- the maximum loan size is £400,000