Remortgage on Help to Buy

kingstreet

yibiophe wrote: »

In the guide it says if you are remortgaging to clear the loan then you do not need to let them no.

Suggest you read this;-

http://www.myfirsthome.org.uk/schemes/help-to-buy/staircasing

as this is the section which relates to you. You are looking to repay the equity loan.

The section about remortgaging assumes you are keeping the equity loan, not repaying it.

libf

kingstreet wrote: »

Suggest you read this;-

http://www.myfirsthome.org.uk/schemes/help-to-buy/staircasing

as this is the section which relates to you. You are looking to repay the equity loan.

The section about remortgaging assumes you are keeping the equity loan, not repaying it.

There are errors on that page too though, which doesn't help...

'As you are aware, there is a fee due on your Help to Buy assistance from the third anniversary of you purchasing your property.' Should read 5th.

'There will also be two administration charges, £115 for the staircasing transaction and £115 for the additional borrowing transaction, both are non refundable.' Not if you're staircasing the full amount. Then there's only one fee.

kingstreet

libf wrote: »

There are errors on that page too though, which doesn't help...

'As you are aware, there is a fee due on your Help to Buy assistance from the third anniversary of you purchasing your property.' Should read 5th.

'There will also be two administration charges, £115 for the staircasing transaction and £115 for the additional borrowing transaction, both are non refundable.' Not if you're staircasing the full amount. Then there's only one fee.

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