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Advise Please about Homebuyer Direct scheme
andrews_45
Posts: 1 Newbie
Hi, Can anybody please give me some advise regarding the homebuyer direct schemes. I am a recently divorced father of 2 living in Housing Association property since my marital split. My marital home has now sold, so I have a deposit to put down and buy a house....
But I'm thinking as I qualify for the homebuyer scheme could I buy a house under the scheme and rent it out while I continue living in my rented accomodation. The reason I want to do this is, the house I want to buy is near a secondary school I want to send my children to, but don't want to move for a couple of years as they are settled in school where I am.
The scheme will enable me to buy a property and get back on the ladder and I plan to move into it in several years time.
Can anybody please help? Thanks
But I'm thinking as I qualify for the homebuyer scheme could I buy a house under the scheme and rent it out while I continue living in my rented accomodation. The reason I want to do this is, the house I want to buy is near a secondary school I want to send my children to, but don't want to move for a couple of years as they are settled in school where I am.
The scheme will enable me to buy a property and get back on the ladder and I plan to move into it in several years time.
Can anybody please help? Thanks
0
Comments
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you have to live in it not rent it........0
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would be very tricky im sure the homebuy will have T&C whereby you need to reside at the property. If you were to buy normaly on a residential basis you can then ask the lender for permission to let however they have the right to declineHi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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not possible. renting out is not allowed.Act in haste, repent at leisure.
dunstonh wrote:Its a serious financial transaction and one of the biggest things you will ever buy. So, stop treating it like buying an ipod.0 -
You have a deposit. Just buy on the open market using a Buy-to-Let mortgage.0
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