Has anyone or does anyone know about the Home Buy direct scheme?  The 70% share you pay for 30% you borrow - Gorvernment and builder for 5 years interest free, but you own 100 %.  currently you don't need a deposit with one lender - which is who we are trying for.  We have already been agreed by another lender but they want 5% deposit.  It's a gorvernment scheme which helps 1st time buyers onto the market.

My partner and I have been approved and are going to go ahead and buy somewhere only my mother is being a pain in the behind and paniking.

I appreciate her caring and everything but it's a gorvernment run scheme how could it possibly be bad? 

However I just thought I would post on here to see if anyone had heard anything - good or bad about it ?

Many thanks.

N

Hi,

I havent had any experience of it but did look into it a while ago (decided against it in the end though) I think its a good idea as a help onto the property ladder, as long as you are sure that in 5 years time you will be in a financial position to cover the other 30%. 5 years can go very fast!

All in all I think it is a good idea if there is no other way you can afford a house.