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H2B Equity Loan & Buying Freehold
I have recently purchased a new build apartment using the Help To Buy Equity Loan.
All of the leaseholders (of which I am one) have been offered the opportunity to purchase the freehold for the block that we are in.
Currently weighing up the pros and cons of doing this. One thing I want to find out is this:
I used a 20% Equity Loan to purchase my property, which means that I have to repay 20% of the value of the property when I sell it, regardless of the value of the property at that time.
If I purchase a share of the freehold I should, in theory, be increasing the value of my property. Does this mean I will pay 20% of that extra value back to the H2B scheme? Or is a freehold sold separately to a leasehold? I'm confused.
Many thanks in advance for your help
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