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Help to Buy... Eh?

Manb91uk
Manb91uk Posts: 17 Forumite
10 Posts
in House buying, renting & selling
Hey Guys,

Im looking to buy a house in the next 18-24 months and was wondering whether there's any Help to Buy schemes left from the government... Or is it only the ones for these awful new builds?

Essentially I wanna buy a house that was built a while ago but wonder what help there is... If anything?
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Comments

  • da_rule
    da_rule Posts: 3,618 Forumite
    Sixth Anniversary 1,000 Posts
    edited 22 September 2019 at 7:59AM
    The Help to Buy ISA is available if you are a first time buyer.

    You can also buy an older Help to Buy Shared Ownership property if one becomes available and you meet the qualifying criteria.
  • Cakeguts
    Cakeguts Posts: 7,627 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper
    New builds only.
  • Manb91uk
    Manb91uk Posts: 17 Forumite
    10 Posts
    Yeah, none of those are of interest to me at all. I was hoping there was a way to buy an older house (I HATE new build houses) and buy 100% of the place..
  • Cakeguts
    Cakeguts Posts: 7,627 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper
    Manb91uk wrote: »
    Yeah, none of those are of interest to me at all. I was hoping there was a way to buy an older house (I HATE new build houses) and buy 100% of the place..


    The help to buy on a new build only helps to pay some of the premium on the house being new so an older house which doesn't have the premium will cost you less.
  • grumiofoundation
    grumiofoundation Posts: 3,051 Forumite
    Fifth Anniversary 1,000 Posts Name Dropper
    Manb91uk wrote: »
    Yeah, none of those are of interest to me at all. I was hoping there was a way to buy an older house (I HATE new build houses) and buy 100% of the place..

    100% - So you want to buy a house in cash???? Don’t see why people able to buy in cash would need “help to buy”?

    If you don’t mean 100% in that sense you can open a lifetime ISA, which can be used on any property (not just new builds, as can HTB isa) up to 450k, if buying in 18-24 months would be amble to get a free 2000 towards purchase.

    https://www.moneysavingexpert.com/savings/lifetime-isas/
  • davidmcn
    davidmcn Posts: 23,596 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    grumiofoundation wrote: »
    100% - So you want to buy a house in cash???? Don’t see why people able to buy in cash would need “help to buy”?
    No, that doesn't necessarily mean a cash purchase. People with mortgages also (usually) buy 100% of the property, they've just borrowed some of the money.
  • Manb91uk
    Manb91uk Posts: 17 Forumite
    10 Posts
    davidmcn wrote: »
    No, that doesn't necessarily mean a cash purchase. People with mortgages also (usually) buy 100% of the property, they've just borrowed some of the money.

    Thank you! That's exactly what I meant... I was just hoping there was something that could help me buy one of my local houses.. I can get 5-10% of the price saved in a year, but I would have liked a little assist if I could.

    No worries.
  • ethank
    ethank Posts: 2,197 Forumite
    Holiday Haggler I've been Money Tipped!
    There is no scheme available for older houses - other than shared ownership.
  • grumiofoundation
    grumiofoundation Posts: 3,051 Forumite
    Fifth Anniversary 1,000 Posts Name Dropper
    Manb91uk wrote: »
    Thank you! That's exactly what I meant... I was just hoping there was something that could help me buy one of my local houses.. I can get 5-10% of the price saved in a year, but I would have liked a little assist if I could.

    No worries.

    You can - lifetime or HTB ISAS (although lifetime likely to be better).
  • diggingdude
    diggingdude Posts: 2,499 Forumite
    Eighth Anniversary 1,000 Posts Name Dropper Photogenic
    Lifetime isa is your best bet. It will give you a 25% bonus on any deposit you can save
    An answer isn't spam just because you don't like it......
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