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 Equity Loan
Options
foxtrot_mike
Posts: 109 Forumite
Following on from this Post People who have sold a 'Help to Buy'...
My property is currently on sale and I have an equity loan with Target HCA
My proposal is to redeem the loan on sale of the property
However i am wondering whether, it is worth getting a redemption done now considering some of the hassle people have recieved.
Im due to start making payments in May, for the first year or so it seemed cheaper to do it that way in interest than is was to pay the £250 fee (yet)
Is the case with this im only paying the interest on the loan and not paying off the loan itself?
There are personal reasons why i don't want to redeem the loan in full now but there may be some advantages in getting rid of this extra burden i currently have, even though it may all be blown away anyway in another 6-12 months on sale of the property.
Any thoughts?
My property is currently on sale and I have an equity loan with Target HCA
My proposal is to redeem the loan on sale of the property
However i am wondering whether, it is worth getting a redemption done now considering some of the hassle people have recieved.
Im due to start making payments in May, for the first year or so it seemed cheaper to do it that way in interest than is was to pay the £250 fee (yet)
Is the case with this im only paying the interest on the loan and not paying off the loan itself?
There are personal reasons why i don't want to redeem the loan in full now but there may be some advantages in getting rid of this extra burden i currently have, even though it may all be blown away anyway in another 6-12 months on sale of the property.
Any thoughts?
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
- 598.8K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards