Eligibility for Help To Buy - Buying a new-build flat off an investor

yakuman

Hello,

Could you please advise if I would qualify for Help To Buy if i were to buy a flat in a new-build, but from someone who has already acquired the flat (and is wishing to sell it now) as opposed to buying directly from the developers?

Many thanks!

kingstreet

Nope.

You can purchase only from "the provider" as they are termed by the HCA.

This is the builder of the property.

pmd123

Hi kingstreet

Not wanting to doubt you as your advice on here is always exceptional, but would this not still qualify for HTB - mortgage guarantee if the buyer wished to go down that route?

Just checking.

stator

pmd123 wrote: »

Hi kingstreet

Not wanting to doubt you as your advice on here is always exceptional, but would this not still qualify for HTB - mortgage guarantee if the buyer wished to go down that route?

Just checking.

Yep. Use HTB-MG, it's a better scheme

GMS

How long has the iinvestor owned the flat for?

kingstreet

Sorry, the HTB - equity loan scheme isn't available, but many lenders will still class it as a newbuild and won't, as a result, offer HTB - MG on it as GMS is heading towards.

I'm not sure how it would be viewed by the two or three lenders who do offer HTB - MG on newbuilds.

This is a job for a mortgage broker.