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Moving new build another new build - Help To Buy
grahamando
Posts: 6 Forumite
Hi,
Currently live in a new build with 20% HTB equity loan.
Looking to move into another new build (will have been 2-3 years). Is there anything preventing you taking another HTB equity loan? Obviously I’d have to ensure the original is paid off through the sale of the existing property first (20% sale price).
Has anybody had any experience of doing this? I imagine legally it’s quite a bit more work for the solicitors. I presume they’d allow you to submit an application again with the caveat the original loan is paid off first. Can this all be done though a selling and buying transaction?
Any advice or input would be appreciated.
Thanks
Graham
Currently live in a new build with 20% HTB equity loan.
Looking to move into another new build (will have been 2-3 years). Is there anything preventing you taking another HTB equity loan? Obviously I’d have to ensure the original is paid off through the sale of the existing property first (20% sale price).
Has anybody had any experience of doing this? I imagine legally it’s quite a bit more work for the solicitors. I presume they’d allow you to submit an application again with the caveat the original loan is paid off first. Can this all be done though a selling and buying transaction?
Any advice or input would be appreciated.
Thanks
Graham
0
Comments
-
Nothing to stop you.
Sale and purchase completions must be concurrent, or first property sold beforehand.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
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