Affordable Housing FAQs
What about a deposit and savings?
- It is possible to borrow up to 97% of the purchase price of an affordable home. This means that you need to save at least 3% of the price for a deposit.
- You should be able to show that you have a record of saving. Or, some Banks or Building Societies may take a record of rent paid into account as part of a saving record. This can show your ability to pay a mortgage.
- Banks and Building Societies may apply their own conditions, so you should check with them first.