Help To Buy - finding it difficult to remortgage at end of fixed term

Harrison88

Hi guys,

I bought a house for £225,000 back in January 2014. With the two year fixed rate term coming to an end and my house increasing in value I wanted to see what deals would be coming up. I understand some providers allow you to secure the rate six months in advance.

However, I'm really struggling to find providers who will lend to someone with Help To Buy equity. Does anyone have any tips? I can go with a mortgage advisor but I want to make sure I'm getting the best deal and not missing anything. Based on the fact I can't find any building societies who will take me on I don't think I will be...

Loan balance: ~£160,000
Market value: £295,000 (LTV: 54% + HTB)

I was considering buying out half (10%) of the equity at market value. I can stretch to the full amount but I don't want to be left up a creek if the rates substantially increase over two years.

Cheers!

justcat

At that LTV, I wouldn't have thought that you would have a problem but maybe it's the remortgaging aspect.
A broker is best I would say. Our was worth her weight in gold!
I'm not sure if it's easier to get a brand new HTB mortgage or remortgage with HTB. Hopefully one of the brokers on here can help.

kingstreet

You can ask your current lender what customer retention products it has and there are a couple offering remortgage products. At least one allows you to leave the equity loan in place.