Help to Buy / Rent to Buy after Bankrupcy

andreap1984

Hi

After a bit of advice please. I want to buy a property but I was declared bankrupt in Nov 2011.

I have an annual salary of £21000.

I appreciate its not a lot but wondered if I would be able to get onto the property ladder via help to buy, or the rebt to buy schemes? I have saved up £2000 so far. I know there is this shared bugungn where you can purchase a 25% share or above - would this apply to me?

I don't really understand it all as there appears to be so many, affordable rent, rent to buy, shared buying, help to buy??

If I went into an affordable housing property (can you then buy at a later date)?

Where can I get some free advice from please? X

andreap1984

Bump thread please x

stator

The bankruptcy is your main problem. There are some mortgage advisors/brokers on this forum, they may be able to advise you when it's worth considering applying for a mortgage.
Help To Buy Mortgage Guarantee is the scheme that lets you buy a normal house with a 5% deposit. It's really simple and acts just like a normal mortgage.
Help To Buy Equity Loan is the more complicated one where you take out loan and is for new build only.
Shared Ownership is only available through housing associations on specific homes, you can usually buy between 25% to 75% of the home to start with and rent the rest. You don't really 'own' the house, you just have a lease, it's more restricted, you can't do whatever you like. However if you can't get a house you like outright then it's worth considering.
Affordable rent is just a discounted rent scheme on new build houses. Nothing to do with ownership.
Rent To Buy is a small scheme run by some housing associations. Very limited availability. You'd have to check the particular schemes rules but usually it gives you the option to buy a house after X number of years of renting it, with a bit of a discount.
Some propery developers run their own schemes, the terms and conditions vary wildly so you have to research each one.