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What help is available for a single person?
I’m likely being too optimistic but here goes...
Around 2 years ago my ex partner and I bought a house together using the help to buy scheme. We then split up and I’m now in the process of saving for my own place. It seems more daunting doing it as a single person and I really hope that there’s something out there similar to help to buy that I can benefit from, even although I have essentially had and used my chance...
Everything that I have found so far is for ‘first time buyers’ only (i.e. help to buy schemes and lifetime ISAs).
I’ve really struggled to find an answer to this online so far so if anyone knows of anything I’d be really grateful if you could point me in the right direction. My guess is that some standard savings account will be my best option.
Thanks
Comments
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Did you sell the house you bought with your ex partner? If yes, you can still benefit from HTB equity contribution if the newbuild will be your only home.0
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Probably not a helpful answer, but if you use the equity you already built up in your old house, can a relative get added onto a mortgage with you to increase the amount you are able to borrow if that is the issue?I know from my current experience it is difficult to buy alone. I've got a budget of 110k on a salary of 26k per year. Fine for where I live, but if you live in the South East that won't stretch. You could also look at part buy part rent?0
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Thanks for your responses. The house hasn’t been sold and isn’t planned to be, it’s been taken on by my ex solely - does this mean the HTB is not an option?
I’d rather not have a relative added onto my mortgage but good shout to keep this in mind in case I need to go down this route! I hadn’t really considered the part buy part rent so I’ll have a look into this, thanks.0 -
So have you sold her your share or not?wannabeowner said:...it’s been taken on by my ex solely...1 -
Yes (well, in the process of doing so)0
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Shared Ownership is an option worth looking into.I am an Independent Financial Adviser (IFA). Any posts on here are for information and discussion purposes only and should not be seen as financial advice.0
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