Britain sets out fees for "Help to Buy" mortgage scheme
LONDON Oct 8 (Reuters) - The British government said fees for lenders participating in its flagship mortgage guarantee scheme would range from 0.28 percent to 0.9 percent of loan value, depending on the size of the deposit.
The fees are designed to cover any losses to the taxpayer and to comply with European Union state aid rules.
Under the scheme, the government will guarantee up to 15 percent of a mortgage, helping people who in recent years have been unable to get on the property ladder because they lack the high deposits that lenders require.
The Treasury said the one-off fee for an 80-85 percent loan-to-value mortgage would be 0.28 percent, that for an 85-90 percent loan-to-value-mortgage would be 0.46 percent and the fee for a 90-95 percent loan-to-value mortgage would be 0.9 percent.
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