HTB partial redemption without selling issue - advice appreciated

oodelally

Hello everyone - long time reader, first time poster!

I'm currently experiencing a very stressful situation trying to partially redeem my Help To Buy (10% out of 20%) without selling through further borrowing and increasing my mortgage against the new valuation of my property. My existing mortgage is with Halifax and hoping to receive a new mortgage offer with Halifax - both 33yrs.

The main hurdles are:
1. Halifax will not offer a formal mortgage unless they have a deed of postponement
2. Metropolitan Housing will not issue a deed of postponement without a formal mortgage in place

Surely this can't be right? There is such a chicken and egg situation here meaning it will never be processed. Metropolitan said they can issue a 'lenders letter' but Halifax state they need a deed of postponement and that Metropolitan have issued this in the past.

Am I the only person going through this, or have other people experienced the same? I'm really finding it hard to believe that a Government based initiative will have such conflicting policies and think something urgently needs to be done as this will only cause further stress and headaches to anyone in future looking to do the same.

I'd also love to know if anyone has done and how it went for them (did you have the same problems) and any help or advice to what can I do to help this get processed would be greatly appreciated.

Thank you all in advance!

oodelally

Turns out it's down a miscommunication on terminology via Halifax (PHEW!)

So when Halifax say they need a deed of postponement in order to proceed = they actually mean they need a copy of your redemption statement and a lenders letter that you get from your housing agent.

Hope this helps anyone stumbling across this in future!