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Help To Buy question

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Myself and my partner are going through a separation at the moment and i am looking at the right to buy scheme. Obviously we are selling our current house and will split the equity however i notice that the right to buy website says that the scheme is not open if you already own or have deeds in your name on a house. So my question is would i have to sell my current house and then rent privately whilst i look ?

Comments

  • Jamgeorge
    Jamgeorge Posts: 89 Forumite
    I THINK you can!!!8217;t of owned a house within the last 3 years in order to use the scheme
  • paulhgc
    paulhgc Posts: 201 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    Jamgeorge wrote: »
    I THINK you can!!!8217;t of owned a house within the last 3 years in order to use the scheme

    Thankyou i just done a bit more research and found this

    Shared Ownership

    Shared Ownership schemes are primarily aimed at first time buyers but if you currently own a property, it will need to be "sold subject to contract" (you have formally accepted an offer on it) when you apply to us and must be sold when you complete the purchase of a new home.
    Existing shared owners who qualify for assistance are able to move from their existing shared ownership home and purchase a new build home under the shared ownership scheme. The existing shared ownership home must be disposed of at the point of purchase.
  • Edi81
    Edi81 Posts: 1,501 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    You keep referring to right to buy.
    This is for council tenants.
    Do you mean help to buy?
  • paulhgc
    paulhgc Posts: 201 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    Edi81 wrote: »
    You keep referring to right to buy.
    This is for council tenants.
    Do you mean help to buy?

    Sorry yes i mean help to buy
  • kingstreet
    kingstreet Posts: 39,256 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Sale or removal from ownership of any other property must happen on or before completion of an HTB Equity Loan newbuild purchase.

    Read the Buyer's Guide;-

    https://www.helptobuy.gov.uk/wp-content/uploads/Help-to-Buy-Buyers-Guide-Feb-2018-FINAL.pdf
    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.
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