![]() For new properties only both purchased and self build properties, the Help to Buy Scheme can be used.Their source must be verified and provided as part of the Local Authority application. All of the applicant(s) financial contribution (from unborrowed sources) will be in place and evidenced in the applicant(s) bank account prior to loan drawdown.Gift or money from other unborrowed sources can be of 7% of the value of the property.The cash savings must be no less than 3% of the value of the property and evidenced at the time of making a Local Authority Home Loan application.The minimum 10% deposit can be made up of both cash savings and gifts/other unborrowed sources.Applicants availing of the Tenant Purchase Scheme are exempt from this requirement. You must have a minimum deposit equivalent to 10% of the property's market price or purchase price, whichever is less.provide bank or similar statements (post office, credit union, etc.) for a 12-month period immediately prior to making an application clearly showing a credible and consistent track record of savings. ![]() provide evidence that their savings have accumulated over a period of at least 12 months.have a credible savings record of a minimum of 12 months duration immediately prior to making an application.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |