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Sell & Buy with Help to Buy
Ginger82
Posts: 5 Forumite
Hi
First time post so I hope I have gotten this right!
My husband bought his property using help to buy and we would now like to buy something bigger together.
We would like to use help to buy again (its pricey where we are and this would enable us to purchase a 3 bed house we could make our long term Home). The mortgage broker has said this is ok to do.
My confusion is around the process as one person has advised we need to sell his current property and settle the equity loan before we can apply again. Another has suggested you can sell with help to buy on a property whilst applying for the help to buy for the new property?
Does anyone have any experience with this? Or, are we better to sell up completely and go into rented short term which I am loath to do given the additional costs!
Any help much appreciated!
First time post so I hope I have gotten this right!
My husband bought his property using help to buy and we would now like to buy something bigger together.
We would like to use help to buy again (its pricey where we are and this would enable us to purchase a 3 bed house we could make our long term Home). The mortgage broker has said this is ok to do.
My confusion is around the process as one person has advised we need to sell his current property and settle the equity loan before we can apply again. Another has suggested you can sell with help to buy on a property whilst applying for the help to buy for the new property?
Does anyone have any experience with this? Or, are we better to sell up completely and go into rented short term which I am loath to do given the additional costs!
Any help much appreciated!
0
Comments
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Bit baffled why the Broker could not answer this for you.
As long as your husband sells the help to buy property he has on the same day you buy the new property there is no problem.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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.0
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