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HTB and old payment arrangement
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spiritless
Posts: 83 Forumite
After 20 odd years of heavy debt, we're finally out the other side. 12 more months and we'll have cleared the last of the NRAM loan and finally be able to move.
In 2009 we had a very bad patch and organised payment plans. Most of these are now off our credit reports however there is 1 that will be reported until October 2018.
I am assuming this will mean the HTB scheme will not be available to us, is this a fair assumption?
In 2009 we had a very bad patch and organised payment plans. Most of these are now off our credit reports however there is 1 that will be reported until October 2018.
I am assuming this will mean the HTB scheme will not be available to us, is this a fair assumption?
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It is a sweeping statement that cannot be proven until you have your case considered by a broker who knows what they are doing in this area.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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 -
Which HTB scheme?
Newbuild, or second-hand?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 -
New build I think. Though I didn't realise there was a difference and I suppose if it's easier to go for an older house then we would do that0
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There is a massive difference which you should investigate initially Spiritless.
Please PM me if you want links to our one minute videos on the two types of Help to Buy Schemes.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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 -
We've done more research and got a plan a,b and c written down. Ideally we'd look at using HTB on a newbuild.
I do worry that that arrangement to pay that is reported until oct 2018 will cause issues though, especially with the HTB scheme.
I've spoken with a broker who quite rightly said they can't do much until we're in a position to proceed. But is there anything we can do to ensure we're in the best position possible? IT's likely that we'll be borrowing up to our maximum as this will be the last time we move (autistic child, doesn't do change well). Credit report will show 1 arrangement to pay on my husband's file and I'm all clear on mine now.
Is there anything else aside from saving hard for a deposit that we can do to put us in a good position so we're able to take advantage of the HTB (or similar) scheme? We'll be looking to move I 2017 so hopefully enough time to make a positive change if it's possible.0 -
Just pay everything on time...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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kingstreet wrote: »Just pay everything on time...
Oh it will be. And has been for years since the blip. We'll be totally debt free when we get to the moving stage.0
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