Government mortgage schemes

K_S

Marcus_Cooper said:

Hi all, hopefully someone can help me... I have been saving with a Help to Buy ISA for several years now - I've never bought before so I didn't give a moment's thought to whether I was eligible. I have just been reminded by my Dad that I was added to the deed of ownership for my parent's house about 25 years ago - this was seen as a (now illegal, apparently) way to prevent the house being sold to cover any care costs that may occur for my parents in the future. From what I've seen, I am expecting that this disqualifies me from using the deposit bonus from the ISA (utterly gutting as I've been paying into it for 8 years) - can anyone confirm for definite that's the case? My Dad thinks I should still be ok as adding a name to the deed has no legal standing (if so, why was it done?!?), but I'm more pessimistic. If it is the case, then is there anything else I can do with this money that will help with buying a house? Thanks.

@marcus_cooper From the limited info in your post, it appears like you do not qualify as an FTB. But that depends on what your dad means by "deed".

An easy way to check would be to get a copy of the title register for the property (for £3 from the land registry, or from your dad) and check if you are named on it.

goodpeople

Hello I own a share of a shared ownership flat,  when I first brought the share (10 years ago) the rent (on the proportion I don’t own)  was relatively cheap but because the rent goes up every year (by Oct CPI), compounded, my rent has effectively doubled - as I have not been position to buy more shares of the flat.  On top of that if CPI goes up a lot (inflation) I could really be stuck - and if I decided to sell up, it might be difficult to sell my share - if the rent cost is high.  I feel a bit stuck,  this is an social housing landlord, they get so much funding from the government but it feels like it goes to paying high salary directors (they are in £90k plus) rather than than their part-renters - please share your view and advice? Thanks