New 21-23 Help to Buy Scheme

hopetobuy

Hi all,

I'm hoping this will be a relatively straightforward question, and apologies if it's been asked before:

With regards to the new Government Help to Buy scheme ongoing from April 2021 - March 2023; I'm in the West Midlands and so the cap will be £255,600. Will this mean we cannot use H2B if we want to purchase a, say, £290,000 house, or will it mean we can only borrow 20% of £255.6k (which will obviously not equate to 20% of £290k)?

Thank you in advance 🙂

Getting_greyer

https://www.gov.uk/government/publications/help-to-buy-equity-loan-2021-2023-funding-administration-agreement

Thats the price cap for using htb.  So on my reading you couldn't use htb for 290k home.  Even if you topped up the extra7k between the the 20% of each value.

AW1980

Hi, my understanding of it is the house price cannot be over the cap limit