Help to Buy - Interest rate rise

Gwendo40

Oh come on, if we are entitled to laugh at the HPCers I think we're also entitled to have little laugh at the gullible debt slaves panicking over the piddliest of interest rate rises.

Sachs

Without seeing your contract and without knowing you and your capacity to read and understand a contract I think most people will be sceptical that your contract makes no reference to a rate rise in year 6. If however you are absolutely sure this is the case I would suggest you send a copy to the management company showing what you agreed to and ask them to explain why they put your interest rate up at all.

Newnoel

...we are entitled to laugh at the HPCers...

You are right on this: the HPC'ers deserve to be ridiculed for their pathetic, covetous and begrudging attitude towards anyone who grows a pair and decides to buy a home for themselves.

Crashy_Time

Newnoel wrote: »

You are right on this: the HPC'ers deserve to be ridiculed for their pathetic, covetous and begrudging attitude towards anyone who grows a pair and decides to buy a home for themselves.

They are not buying it for themselves though, the government are "helping" them?

Newnoel

Crashy_Time wrote: »

They are not buying it for themselves though, the government are "helping" them?

More house buying advice from a 50+ man who sold up in the mid-90s to move into a rented bedsit, thereby missing a 20 year bull run on house prices. I bet you are a real catch for the ladies.

jimbog

Newnoel wrote: »

The bitter little muppets on HPC have decided this thread is one for them to pounce on:
https://www.housepricecrash.co.uk/forum/index.php?/topic/234197-help-to-debt-recipient-squealing/&tab=comments#comment-1103468625


Thankfully very few people seem to post on HPC anymore

One member on the HPC forum has an interesting profile that says it all:
Wayward
HPC Veteran
1,866 posts
Location: poorly housed in southern England

Crashy_Time

https://www.ftadviser.com/mortgages/2018/03/06/help-to-buy-timebomb-as-five-year-anniversary-looms/

mikedaveross

Personally, I have benefited from a <75% LTV mortgage for 5 years, renewing every 2 @ under 2%, now fixed for 5 years & paying considerably less than a 95% mortgage.

I looked round many new builds, picked the exact plot I wanted from the developer I wanted & negotiated £20k off the list price of my property (reserved 3 months into HTB)

My house has been valued @ £100k more. My Help to Buy loan has rose by £20k, but only if I pay it off now. £80k of the potential equity increase is my own.

I am now paying 1.75% on the loan, less than if I added it to my mortgage (& potentially will be for another 5 years)

In total there is £200k of equity now in my house. Over 50%.

Buying a house is an investment. All investments are a risk.

The point here is correct management of the loans going forward.

brit1234

Newnoel wrote: »

The bitter little muppets on HPC have decided this thread is one for them to pounce on:
https://www.housepricecrash.co.uk/forum/index.php?/topic/234197-help-to-debt-recipient-squealing/&tab=comments#comment-1103468625


Thankfully very few people seem to post on HPC anymore

I smell a sock puppet hiding behind this fake account.:rotfl: