Help To Buy Scheme-Has anyone sold a property whilst on this scheme?

ahall3519

Hi I am after some advice.

We purchased our current property using the Help to Buy scheme back in September 2010. However we are now looking to put our house on the market. I am just looking for anyone who has done this and any advice when it comes to repaying the government and homebuilder loan back. Reading through our paperwork they want a separate valuation and the repayment amount is then calculated as a proportion of either the current market value or the sale price of the property (which ever is higher).

skimper

Its being discussed here too: https://forums.moneysavingexpert.com/discussion/5513452

But you have to get a valuation done by an independent valuer. Then fill in form B from https://www.myfirsthome.org.uk/iwantto/redeem/ (this site will explain everything) and send it off.

Once you have sent this off it will take up to 4 weeks to get the report back saying how much you owe. Once you have this your free to complete the sale. the last 6 weeks is them sending a letter acknowledge you have paid off the loan.

Hope this helps.

ahall3519

Thanks skimper I shall have a look at this!

Arlo

I started the other thread, hopefully exchanging & completing next week on the sale of our help to buy equity house.
If you want any info let me know & I'll try answer.
We instructed 1 of the approved surveyors on there list, it was £280 but they came out the next day & the report was emailed to us the day after that. The other surveyor on there list was cheaper but couldn't fit us in for 2 weeks, we want a quick sale so paid the extra

ahall3519

Ok, many thanks Arlo! will be in touch soon with some more questions! : )