We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
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
-
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
-
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
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.4K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards