Restrictions on movement after purchasing HTB property

Miranda25

Hi Guys,
Honestly I am shocked. I just received email from resales officer of Moat and she said "You cannot sublet your property and you should not be away from the property for more than 30 days, without discussing with us first."
I can understand restrictions on renting, animals..... I cannot understand at all restrictions on movement. Am I buying a prison? Why should I ask their permission for leaving my flat even for 6 months if I still continue to pay for everything in those flat? Who cares where I am? I might be in East Asia spending winter time there and then coming back to the UK. I might be somewhere outside of UK for work. I might be in another country to care of my old parents. Who cares where I am?
Anybody who has a property via help-to-buy and experienced something like that, please reply this thread. As this would completely change my views on buying property.
Any law regulations around it?
What people you do if you live in HTB property and then you have a good offer to work somewhere abroad for 1-2 years please? 
Many thanks.

blue_max_3

They say they want to discuss. Maybe so they can ensure you have adequate empty home insurance. It's their asset too.

Martin_the_Unjust

blue_max_3 said:

They say they want to discuss. Maybe so they can ensure you have adequate empty home insurance. It's their asset too.

Is the right answer

GixerKate

Have a look at the H2B documentation, the property must be your only residence, I'm guessing you asked about subletting and this is the answer you got?

Also, its pretty standard for home insurance policies to state that you cannot leave the property empty for any amount of time (I think its 30 days but can't remember exactly) so it seems pretty standard to me..

silvercar

HTB is a scheme to help people buy a home to live in, not to leave empty and go elsewhere.

AdrianC

Miranda25 said:

Any law regulations around it?

Of course, you don't HAVE to borrow their money, if you don't like the terms and conditions surrounding it.

What people you do if you live in HTB property and then you have a good offer to work somewhere abroad for 1-2 years please?

If you own a property in the UK with those kinds of terms surrounding it, why are you applying for jobs in another country?

GixerKate

Miranda25 said:

Hi Guys,
Honestly I am shocked. I just received email from resales officer of Moat and she said "You cannot sublet your property and you should not be away from the property for more than 30 days, without discussing with us first."
I can understand restrictions on renting, animals..... I cannot understand at all restrictions on movement. Am I buying a prison? Why should I ask their permission for leaving my flat even for 6 months if I still continue to pay for everything in those flat? Who cares where I am? I might be in East Asia spending winter time there and then coming back to the UK. I might be somewhere outside of UK for work. I might be in another country to care of my old parents. Who cares where I am?
Anybody who has a property via help-to-buy and experienced something like that, please reply this thread. As this would completely change my views on buying property.
Any law regulations around it?
What people you do if you live in HTB property and then you have a good offer to work somewhere abroad for 1-2 years please? 
Many thanks.

Reading this thread and other similar threads you have posted it sounds like you are trying to decide whether to buy a property or continue to rent, as you are looking in and around London you are restricted to using the H2B scheme if you go down the route of buying a property.

A way to look at it, buying a property (especially using H2B) is putting down roots.  The H2B scheme is where they are paying up to 20% (or 40% of the value of the property) for you to help you buy a place that would normally be out of your reach, they essentially own that percentage of the property so will have conditions.  With that assistance (which is interest free for 5 years, you only need to pay £1 a month as a management fee) comes conditions such as it has to be your only place of residence and you can't sublet or leave it empty for long periods of time.

If you want the freedom to move around a lot or go abroad for months at a time perhaps renting would suit you better?  I would suggest that if you want to spend less than 5 years in a property then buying a place using H2B is probably not very suited to you.

Miranda25

GixerKate said:

Miranda25 said:

Hi Guys,
Honestly I am shocked. I just received email from resales officer of Moat and she said "You cannot sublet your property and you should not be away from the property for more than 30 days, without discussing with us first."
I can understand restrictions on renting, animals..... I cannot understand at all restrictions on movement. Am I buying a prison? Why should I ask their permission for leaving my flat even for 6 months if I still continue to pay for everything in those flat? Who cares where I am? I might be in East Asia spending winter time there and then coming back to the UK. I might be somewhere outside of UK for work. I might be in another country to care of my old parents. Who cares where I am?
Anybody who has a property via help-to-buy and experienced something like that, please reply this thread. As this would completely change my views on buying property.
Any law regulations around it?
What people you do if you live in HTB property and then you have a good offer to work somewhere abroad for 1-2 years please? 
Many thanks.

Reading this thread and other similar threads you have posted it sounds like you are trying to decide whether to buy a property or continue to rent, as you are looking in and around London you are restricted to using the H2B scheme if you go down the route of buying a property.

A way to look at it, buying a property (especially using H2B) is putting down roots.  The H2B scheme is where they are paying up to 20% (or 40% of the value of the property) for you to help you buy a place that would normally be out of your reach, they essentially own that percentage of the property so will have conditions.  With that assistance (which is interest free for 5 years, you only need to pay £1 a month as a management fee) comes conditions such as it has to be your only place of residence and you can't sublet or leave it empty for long periods of time.

If you want the freedom to move around a lot or go abroad for months at a time perhaps renting would suit you better?  I would suggest that if you want to spend less than 5 years in a property then buying a place using H2B is probably not very suited to you.

Thank you GixerKate,
I am renting now in London and already spent time on trying to understand how HTB works (thank you for all the help on this forume). But I had no idea about restrictions on movement. Is this only for HTB schemes or for all leasehold properties in the UK?
My situation: I am working here but if opportunity is coming to work abroad I really do not want to miss the opportunity. Based on my documents I can only be for 2 years out of the UK and then should be back. I also would like to have my own place here, so what should I do? 

Comms69

This seems much more likely a lease condition, as opposed to a HTB condition? But could be wrong

Miranda25

silvercar said:

HTB is a scheme to help people buy a home to live in, not to leave empty and go elsewhere.

Yes, I am buying property to live in the UK. But who knows what's coming in 2021-2023? If there is a chance to relocate and work somewhere else for 1-2 years then I don't want to miss this chance. And I should not have this choice of refusing to work somewhere else just because of my HTB property? So what? I would still paying for that, not somebody else.

[Deleted User]

@GixerKate HTB do not own a percentage of the property any more than the mortgage lender owns a share of the property. A HTB Equity Loan is a loan secured against the property just the same as a mortgage is a loan secured against the property and secured loans are not the same as owning a share of the property at all. 

@Miranda25 The HTB Equity Loan scheme is to help people by their home, their only home. Quite clearly if you are working abroad for a year or two the property purchased using HTB EL will not be your only home. It’s covered in the HTB guidance. If you don’t like the conditions of the loan then don’t take the loan. It’s that simple. 

https://www.helptobuy.gov.uk/wp-content/uploads/2020.05-Help-to-Buy-Buyers-Guide-May-FINAL.pdf