Remortgaging with Help to Buy equity loan

kayels2

Hello,

I'm looking to remortgage but finding it difficult to find providers who offer remortgaging with a help to buy equity loan in place.

The original mortgage is with Virgin Money - I'm not desperate to move away from them, but trying to find other quotes to compare to, to ensure we have got the best deal available.

We're only 2 years into the 5 interest free years, so don't want to settle up just yet (it would also push us into a high loan to value ratio).

Has anyone on here found any other mortgage providers?

middleclassbutpoor

https://www.thisismoney.co.uk/money/mortgageshome/article-5423427/How-remortgage-Help-Buy.html

There is a list at the bottom

kayels2

Thank you, I hadn't found that article in my googling!

For anyone else looking, Barclays have told me this morning that they don't offer remortgages, but Lloyds do!

amnblog

Barclays do offer H2B remortgages. Some miscommunication there.

What you cannot do is raise additional capital on a H2B remortgage for any reason other than to repay part of the Equity Loan.

kayels2

Oh thank you - the advisor in the call centre probably needs more training if that's the case!

amnblog

Borrowers often get misinformation from Lenders due to industry jargon.

Mathias123

If you decide to stay with Virgin Money do you know if you need HCA approval? Pretty much in the same position as you but with Nationwide.

kingstreet

Not for a product transfer you don't.

A remortgage means a new mortgage deed and that means you need a deed of postponement from Target to stop the HTB loan being promoted to a first charge when your current lender is repaid.