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Help to buy LTV

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  • 15-02-2019 10:53am
    #1
    CantThinkOfANam
    Registered Users Posts: 225 ✭✭


    Hi all,

    Currently planning on purchasing a house as a first time buyer. I wanted to get a 50% mortgage and pay for the rest with savings I have.

    However I’ve just realised that I need a LTV of greater than 70% to be eligible for the help to buy scheme.

    So my question is: can I get a 70% mortgage and let’s say in 6 months time pay a lump sum into the mortgage and bring the LTV down to 50%? I realise I’ll need to be on a variable interest rate.

    And to follow on, is it worth availing of the help to buy scheme or am I better suited to just have a LTV of 50% and take the lower interest rate?

    Sorry but I’m learning as I go along here;)

    Many thanks.


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    #2
    DodgeS
    Registered Users Posts: 15 ✭DodgeS


    Hey I'm thinking of the exact same thing as you now. Can you tell me how you got on?

    I was considering a split mortgage, 20% variable and 50% fixed then pay the variable off straight away.


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