We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Help to buy HELP!
Options
jackyboyw
Posts: 59 Forumite
Hi everyone,
In a bit of a dilemma, I'm looking for a property to buy (and let out) & have enough money for a 10%+ deposit on the value property i'm looking for.. Is it worth using help to buy anyway & only putting down a 5% deposit or is it worth using it to buy a more expensive property with only a 5% deposit. A part of me feels I should make the most out of HTB but seeing as I have the money to put 10%+ down should I do that and get a cheaper mortgage..
Thanks in advance :beer:
In a bit of a dilemma, I'm looking for a property to buy (and let out) & have enough money for a 10%+ deposit on the value property i'm looking for.. Is it worth using help to buy anyway & only putting down a 5% deposit or is it worth using it to buy a more expensive property with only a 5% deposit. A part of me feels I should make the most out of HTB but seeing as I have the money to put 10%+ down should I do that and get a cheaper mortgage..
Thanks in advance :beer:
0
Comments
-
You can't use HTB to purchase a property to let out. HTB is for people who need help to buy a home, not people who want an investment property.0
-
What part of you feels you should "make the most" of HTB?
It is a scheme set up to help FTBs onto the housing ladder in an astronomically inflated market. So please explain why the government - and ultimately the tax payer - should help fund your buy-to-let? If you read the stipulations you'd of seen you cannot let out a HTB property.0 -
Who's going to stop me hypothetically speaking
0 -
This isn't a dilemma this is a non-starter. 1) You cannot use HTB to purchase a BTL. 2) Good luck getting a BTL mortgage with just a 10% deposit.0
-
I work for a conveyancing solicitors and believe me, 99% of HTB is used for BTL....0
-
Why would I lie? I'm over exaggerating but yes, A LOT of HTB is used for BTL0
-
Why would you lie? Because you're the kind of person who would use HTB to purchase a BTL.0
-
Thanks for the help anyway 0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244K Work, Benefits & Business
- 598.9K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards