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help to buy scheme

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panky888
panky888 Posts: 2 Newbie
in House buying, renting & selling
im currently serving in the army, and i read in a magazine about some help to buy scheme, i only have to pay 5% deposit and the government help with 20% of the mortgage.
my question is that if i go through with this scheme i wont need to move in personally as i am based at my barracks, so would i be able to rent the house out from day 1 or is there some sort of clause that prevents people doing this?

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  • mimiduck
    mimiduck Posts: 194 Forumite
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    You cannot rent a property if it is under help to buy. Not at least under a tenancy agreement unless you want to offer something to a friend.
  • Slithery
    Slithery Posts: 6,046 Forumite
    First Anniversary Name Dropper First Post Photogenic
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    mimiduck wrote: »
    You cannot rent a property if it is under help to buy. Not at least under a tenancy agreement unless you want to offer something to a friend.

    There are exceptions to this I believe, one of them being if you are serving abroad in the armed forces. This obviously doesn't help the OP though.
  • panky888
    panky888 Posts: 2 Newbie
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    so what does this mean...
    West London apartments from £225,000 with rental yields up to 5.8%.
    that sentence was a headline on a help to buy company website
    apologies for my naive reply, i have no idea about mortgages etc. lol
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