Redemption without selling (Help To Buy)

Drakie2000

Hi

I purchased my home approximately 2 years ago through the Help To Buy scheme and used a 20% loan from the government.

Since then I have some inheritance and would like to stair case my way by paying 10% off.

I have read through the documents found at myfirsthome.org.uk

I understand I need to get a registered surveyor to value the property and then the cost I owe is calculated on the valuation. My question is do I need a solicitor, I'm getting quotes of between £550 and £700.

I'm not selling the house, re mortgaging I just wish to pay 10% off. So am thinking can I legally and is it easy enough doing the paper work myself. Is it the case of just sign on the dotted line

Many Thanks

Steven

Thrugelmir

Drakie2000 wrote: »

My question is do I need a solicitor, I'm getting quotes of between £550 and £700.

Keep shopping around.

Drakie2000

I've decided I'm going to see if I can do the paper work myself. I'm not selling only paying off some of the equity so hopefully not too bad!!

Hestar

Hi Drakie,

Did you manage to do that in the end? I've spoken to Housing Option Plus today about the exact same thing and they were insistent that the paperwork needs to be processed by a solicitor (and on the Confirmation of Instruction letter it asks for solicitor's details).

Thanks,

Adam

nburgher

Hi,

I am interested in knowing this as well.
Is a solicitor actually required, or may I use a cheaper conveyancer?

Cheers,
Neil