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Help to Buy Remortgage
jls022
Posts: 27 Forumite
Hello all,
I will have been in my property for 5 years in June and as such I am due to start paying the interest back on my help to buy equity loan. I am also planning to sell the house and move in with my partner within the next year.
I’m aware this is something no-one will likely be able to answer with any certainty, but with house prices looking likely to drop based on the current pandemic, I’m wondering if I should remortgage soon so the 20% added is 20% of a lower value of the house, then hope that the prices rise again later before I go to sell? Or is it wiser to just sit tight and see how it all pans out? Of course I’ll seek proper financial advice before I do anything, but any general points to consider would be really helpful.
I have no idea what is likely to happen with any of this as I was only 22 when the last crash happened, so was hoping cleverer minds might be able to offer thoughts if not full advice.
Thanks
I will have been in my property for 5 years in June and as such I am due to start paying the interest back on my help to buy equity loan. I am also planning to sell the house and move in with my partner within the next year.
I’m aware this is something no-one will likely be able to answer with any certainty, but with house prices looking likely to drop based on the current pandemic, I’m wondering if I should remortgage soon so the 20% added is 20% of a lower value of the house, then hope that the prices rise again later before I go to sell? Or is it wiser to just sit tight and see how it all pans out? Of course I’ll seek proper financial advice before I do anything, but any general points to consider would be really helpful.
I have no idea what is likely to happen with any of this as I was only 22 when the last crash happened, so was hoping cleverer minds might be able to offer thoughts if not full advice.
Thanks
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