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Help To Buy, good or bad???
Comments
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So if I can afford to proceed without help to buy, they wouldn't advise it, even though I think I may be better off in the long run?0
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It's not "advise" it's "allow."
If you need help, they work out how much you need - 20%, or 10%. If you don't need help, you get none.
You don't get an equity loan just because it will be a nice idea to get an interest-free loan for five years while you leave some of your deposit invested elsewhere.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, 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. Please do not send PMs asking for one-to-one-advice, or representation.0 -
I asked my local help to buy agent if there was a maximum household income at which you would reject n application, to which thy said no.0
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If you ask a particular question, you'll get a particular answer. I did not suggest there was a maximum household income at which they would reject an application.
Did you ask them to run your details through the HCA HTB Calculator, as I suggested?
The calculator analyses all the relevant data and comes to a conclusion, based on that analysis.
Would you like a copy? If so, please PM me your email address and I'll send it to you. It's an excel file. As I also mentioned, you could seek advice/guidance in interpreting the calculator results from one of the brokers on your HCA HomeBuy Agent's approved list.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, 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. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Thanks ill have a look at the excel file, I'm going to see my financial advisor on Tuesday. I didn't want to go directly to the help to buy agent incase they tried to sell me something that wasn't right for me....or anyone,0
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The Help To Buy Agent, or HomeBuy Agent is the Government's gate-keeper. They don't sell anything. They are there to approve the paperwork the developer sends, the reservation form and property information form which forms the HTB application.
They may be able to explain their methodology in how they determine who gets what.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, 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. Please do not send PMs asking for one-to-one-advice, or representation.0
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