HTB and renting property

Clarebear241

Two years ago I bought a property with the aid of the help to buy scheme (Scotland). Now my partner and I are looking to buy a house together and I am considering trying to rent out my current property. However, I believe that this is not possible with the shared equity from Help to buy.
Can anyone give any advice on the best way to get out of the help to buy scheme to make renting my property possible?

Any help would be much appreciated

Clare

Pixie5740

Clarebear241 wrote: »

Two years ago I bought a property with the aid of the help to buy scheme (Scotland). Now my partner and I are looking to buy a house together and I am considering trying to rent out my current property. However, I believe that this is not possible with the shared equity from Help to buy.
Can anyone give any advice on the best way to get out of the help to buy scheme to make renting my property possible?

Any help would be much appreciated

Clare

You're correct, it's not possible.

Your home should be your sole residence and permission to let your home will not be given in any circumstances. If you let your home or do not reside there as your sole residence then this will be a breach of the shared equity agreement and enforcement action could be taken.

It's not rocket science. If you want to let the property you will need need to buy out the equity share. Can you afford to do that? If not then your plan is a non starter.