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Help To Buy Equity Loan
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Why does it matter if my house drops in value if I have no intention to sell? Also, if I don't pay off the equity loan, my understanding is that I wouldn't have access to most of the mortgage products available on the market when it comes to remortgaging. Therefore, I'm thinking of paying off the equity loan and remortgaging. Plus then I also don't have the restrictions in place by HTB such as renting, doing any modifications to the house...
Well quite obviously if your house price has dropped your ltv has increased. Meaning your remortgage options are worse than if the house had increased in value.0 -
It's not the local HTB agent, it's the post-sales HTB Agent, currently Target;-moneytorques wrote: »we are looking at doing some Property modifications IF we can get the Local H2B Agent to approve them
http://www.myfirsthome.org.uk/Dont forget that the H2B Mortgage Range is not as competitive as non H2B, theres a premium of >0.25% for such products IMHO
You comparing with the product you would have to choose from if you didn't have the LTV caused by the equity loan, or the LTV taking it into account?I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
kingstreet wrote: »It's not the local HTB agent, it's the post-sales HTB Agent, currently Target;-
http://www.myfirsthome.org.uk/
You comparing with the product you would have to choose from if you didn't have the LTV caused by the equity loan, or the LTV taking it into account?
Thanks for that info, I was unaware TARGET were now managing the loans.
I think Im comparing to the LTV taking it into account? I know our 5 year fix is 2.11% against market leading 1.9 %ish.0
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