H2B Mortgage Advice Please!

libf

ryanthelion84 wrote: »

So you admit the credit 'file' is relevant, but the score means nothing? - This is fine, but given that I had provided a reasonable insight into my overall financial situation including content from my credit file in my original post tends to insinuate to me that you were just out to prove a point in responding to my original post rather than add any value?

Lots of people are under the impression that the number given to them by credit score companies means something, and many pay monthly fees to have access to them. That's pointless, because you can pay £2 for a copy of the information and that's all you need.

All kingstreet is out to do is stop you and anyone else who reads this from wasting money and stress over a number that is irrelevant.

ryanthelion84

libf wrote: »

All kingstreet is out to do is stop you and anyone else who reads this from wasting money and stress over a number that is irrelevant.

I completely understand this and gave them a 2nd opportunity to provide value based on my entire post, not just a single sentence. It was not meant to be rude or dismissive, but it appears it may have been taken that way.

I seem to recall from previous visits to this forum over the years that there is a vendetta on credit scores, which again is fine and something I agree with (they are useless if they are not adopted as standard), but this thread is not titled 'How do I improve my credit score', so if Kingstreet wishes to promote that, all I am asking is that they do that on their own time and not in my thread?

libf

ryanthelion84 wrote: »

I completely understand this and gave them a 2nd opportunity to provide value based on my entire post, not just a single sentence. It was not meant to be rude or dismissive, but it appears it may have been taken that way.

I seem to recall from previous visits to this forum over the years that there is a vendetta on credit scores, which again is fine and something I agree with (they are useless if they are not adopted as standard), but this thread is not titled 'How do I improve my credit score', so if Kingstreet wishes to promote that, all I am asking is that they do that on their own time and not in my thread?

You don't own the thread, and it helps other people who might read it to have the information on credit scores, even if you already know it...

xnoxxnox

ryanthelion84 wrote: »

I have spoken with Barclays (with whom I have banked for 12 years) who have confirmed they do offer H2B-MG on New Build Properties.

By contrast, Natwest, my existing mortgage lender do not offer this on New homes.

Help to buy and equity loans is only for first time buyers, defined as those who do not own a house, nor have owned in the past 3 years. If you have a mortgage, you can't get a H2B. So what is it?

Jon_B_2

xnoxxnox wrote: »

Help to buy and equity loans is only for first time buyers, defined as those who do not own a house, nor have owned in the past 3 years. If you have a mortgage, you can't get a H2B. So what is it?

Wrong. Get your facts right before posting.

You do not need to be a FTB, however the house you are buying with the equity loan needs to be your only place of residence.

dgtazzman

You don't need to be a FTB for HTB, as stated correctly by Jon B, the house simply needs to be your main residence and you can't own an interest in any other property (so no BTL's etc.). This means you have to complete the sale of your current house at the same time or before you complete on the purchase of your new house. I'm doing same myself at the moment, sold my first HTB home in July, completing on a second HTB home in December, have been fully approved by the HTB scheme.

mrginge wrote: »

new build properties come at a premium, which is immediately wiped out as soon as you walk through the door.

Another pointless generalized remark which does not have to be true. Just because the builder starts with a marked up price, doesn't mean they are going to get it...

fashionvictim

I'm buying a new build house and apparently like a new car the instantly devalue when you move in. You pay a premium for NEW. I guess that is why help to buy was 'invented' as it was hard to buy a new build with only 10% deposit

Also ask what is included as lots of things you think you get like carpets are extra's you need to buy (depending on the developer or level of demand on the development)

Overpaying your mortgage does save you loads of interest, but maybe you could reduce the amount if you have 10K on credit card, guess it depends on interest rates and what your credit limit is?

I think clearing a credit card every month is a good thing - so don't think the work credit card will be a negative.