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help to buy
olliepops
Posts: 1 Newbie
Hi,
I currently own my own home but it is getting a bit too small for the 4 of us, so I am trying to purchase a new build, I was going to try and purchase it outright but, a friend suggested I could maybe go the help to buy route, affordability is fine buying outright. The thing is I am expecting a lump sum in a 2 -3 years so I could settle the help to buy loan then and in the mean time we can live more comfortably and enjoy better interest rates as we'd only need to borrow 70%.
Could I purchase through help to buy while my current property is still up for sale?
Thanks
I currently own my own home but it is getting a bit too small for the 4 of us, so I am trying to purchase a new build, I was going to try and purchase it outright but, a friend suggested I could maybe go the help to buy route, affordability is fine buying outright. The thing is I am expecting a lump sum in a 2 -3 years so I could settle the help to buy loan then and in the mean time we can live more comfortably and enjoy better interest rates as we'd only need to borrow 70%.
Could I purchase through help to buy while my current property is still up for sale?
Thanks
0
Comments
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If your sitting on enough cash to buy the property outright I'd be very surprised if you'd qualify for the scheme. I don't think that is what it is intended for.An opinion is just that..... An opinion0
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No. Any existing property has to be sold before you can proceed with Help To Buy.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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