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    • MissSJL
    • By MissSJL 9th Sep 17, 2:31 PM
    • 126Posts
    • 5Thanks
    Remortgaging out a HTB loan
    • #1
    • 9th Sep 17, 2:31 PM
    Remortgaging out a HTB loan 9th Sep 17 at 2:31 PM
    I've been looking into HTB mortgages and my main concern is having to pay back that lump sum after 5 years before it starts gaining interest. Lots of people have mentioned "remortgaging it out" but I wondered what everyone's opinions are on this? An average 4 bed family home around our way is £250k, meaning a 20% loan would be £50k - that's a hell of a lot of money to save up and pay back in 5 years.
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    • amnblog
    • By amnblog 9th Sep 17, 2:38 PM
    • 10,326 Posts
    • 4,085 Thanks
    • #2
    • 9th Sep 17, 2:38 PM
    • #2
    • 9th Sep 17, 2:38 PM
    When do you need to start paying in back before you start paying interest.

    The interest payable is modest. Less than £30 a week on your example.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    • moneytorques
    • By moneytorques 10th Sep 17, 4:23 PM
    • 110 Posts
    • 41 Thanks
    • #3
    • 10th Sep 17, 4:23 PM
    • #3
    • 10th Sep 17, 4:23 PM
    Dont forget that once that 5 years is up isnt a Repayment Loan its Interest only, unless you pay it back as Staircasing repayments; either 50%, or, the full amount of the H2B element. So 25k or 50k in your scenario.
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