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Help to Buy - newbuild or not?
PP1984
Posts: 64 Forumite
Hello all,
I am looking in to the Help to Buy scheme as a first time buyer.
I've been looking at the FAQ section on helptobuy.org.uk, but it seems to contradict itself.
-It says that newbuild and existing properties are eligible.
-Elsewhere it says that only new build developments are eligible.
-Somewhere else it says that Help to Buy is " generally on new developments"
Can anyone confirm this please? I'm not really looking for a newbuild but would still like to take advantage of the scheme.
Thanks
I am looking in to the Help to Buy scheme as a first time buyer.
I've been looking at the FAQ section on helptobuy.org.uk, but it seems to contradict itself.
-It says that newbuild and existing properties are eligible.
-Elsewhere it says that only new build developments are eligible.
-Somewhere else it says that Help to Buy is " generally on new developments"
Can anyone confirm this please? I'm not really looking for a newbuild but would still like to take advantage of the scheme.
Thanks
0
Comments
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Was a bit quick to ask that. Just noticed there are two different phases to the Help to Buy scheme, with differing requirements for the property.0
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HTB1 = new build only. 75% mortgage, 20% equity loan, 5% deposit.
HTB2 = any property. 95% mortgage, 5% deposit.
I have never done a HTB1 Mortgage so couldnt tell you where to begin. HTB2 is basically like any other mortgage application with jsut a declaration to sign to say you do not own any other properties - or will not when the mortgage completes.I am a Mortgage AdviserYou 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.0
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