Help to buy, 6 moth deadline

NobodysChild

Sorry I can't give you any more advice than the guys here have given, but all I can picture from your thread title is THIS.

Josh1974

Hi,

My case is the following:

ATP issued 16th March. We applied for an extension 10th June and it was granted. ATE issued the 20th of July and exchange the 21th July. The questions is: When does the HTB loan expire ? As we have had several delays and the property is not gonna be ready till first week od December or so.

Thanks.
Josh

kingstreet

You have six moths to complete from the date you exchanged contracts.

An extention will be needed from the HCA if that deadline won't be met.

Josh1974

Thank you very much for your quick reply. My doubt was if the loan is going to expire the 16th of December (9 months after the ATP was issued) or the 21st of January 2016 (6 months after the exchange of contracts, as we had to ask an extension). So I know now, for peace of mind, that it would expire the 21st of January. Hopefully we wont need to ask for an extension, but in the unlikely case that we have to ask HCA (Home Communities Agency) an extension because there are further delays, when would you recommend me to ask for the extension ?

Thank you so much.

Josh

kingstreet

You don't.

Provider's solicitor does it.

Josh1974

Yes I know, but believe it or not, they do not have a clue about when the loan expires, even they told me that once exchanged is done, there is nothing else to do with HTB, and the loan is granted, no matter when completion takes place.

fashionvictim

dangermouse1977 wrote: »

I previously posted this



Is there any way around the 6 month deadline for help to buy?

Thanks

Buy it when it's within 6 months of being finished ! There are always re-releases, new releases/ new phases. You just have to watch the development you want like a hawk.

Or find a new build which will let you reserve ( usually at small fee) but will leave the exchange until six months before its finished.