Hi I am buying an affordable house and will be getting 100% mortgage. However I have to pay council 3% deposit to council. Do I get this back ? or how does it work?
I know it seems crazy to borrow 100% when I could afford 97% but I want to get some basics for the house and keep some money aside "just in case". I probably would not be able to get a bank loan for a while as 35% of my net income will be going on mortgage so as single mom would feel better with some cash on deposit.