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soon to be declared bankrupt and help to buy
projone
Posts: 8 Forumite
t £7k ish so that i can keep my house
Any advice appreciated
Any advice appreciated
0
Comments
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I suspect that help to buy will be considered in the same way as any other loan secured on the property. The loan is secured, so provided you keep to the terms your bankruptcy shouldn't effect things.
If you sold up, you would be required to repay the loan, so nothing is gained.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
Hi, Yes, I would agree with that. Seems these mortgages only differ by the fact that the government guarantees up to 20% of the loan to the lender so the lender can offer mortgages that would normally only be offered to those with at least a 20% deposit.I suspect that help to buy will be considered in the same way as any other loan secured on the property. The loan is secured, so provided you keep to the terms your bankruptcy shouldn't effect things.
If you sold up, you would be required to repay the loan, so nothing is gained.
I see no reason to treat help to buy any different to any other secured lending.
DDDebt Doctor, Debt caseworker, Citizens' Advice Bureau .
Impartial debt advice services: Citizens Advice Bureau Find your local CAB *** National Debtline - Tel: 0808 808 4000*** BSC No. 100 ***0
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