Help to Buy Management Fee?

jaxkesa

I've had a HtB equity loan and mortgage since January 2016 and have recently seen various references to a £1 per month management fee online.

Does anyone know if this is this a new thing? I don't remember reading anything about it when I was originally looking into the scheme or being told to pay it when applying. Should I have been paying this?

andyf1980

It's not a new thing. We took HTB loan out in 2017 and still haven't been charged anything. We are redeeming ours this year so will be interesting to see if they mention it!

kingstreet

Off the top of my head it was introduced in March 2016.

PIFs prior to that had no reference to the admin charge.

jaxkesa

kingstreet wrote: »

Off the top of my head it was introduced in March 2016.

PIFs prior to that had no reference to the admin charge.

Ah that makes sense than. Thanks!

DomGabriele

We took-out a HTB Loan in 2017 and no charges had been identified since however, I have received an apology letter this month requesting back payment and setting-up a Direct Debit to capture all future payments. 

firsttimesellerldn

DomGabriele said:

We took-out a HTB Loan in 2017 and no charges had been identified since however, I have received an apology letter this month requesting back payment and setting-up a Direct Debit to capture all future payments. 

I had the same letter. I’m not convinced I was ever told about it at the time but it’s only a pound a month so just paid up. 

I suspect if you haven’t had the letter by the time you come to sell they will ask for it at that point.