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New Help to Buy Scheme 2021-23
pjw1592
Posts: 34 Forumite
Evening!
I was informed today that the completion of my new build property, which was initially due to be finished this month, has been pushed back to the end of February 2021. The lady I chatted to said this was good news, as it meant I would still be covered under the current help to buy scheme, which expires in March 2021. When asked what would happen if the build completion date were to be pushed back again, she said that I would have to use the new scheme, which the government caps at £186,100 for the north east.
The property I am buying is actually being sold for £195,000. I am concerned that this will mean I will lose the property.
If the build is pushed back beyond the beginning of March, will I be able to still use the new HTB scheme for the first £186,100 of the property, and add the remaining balance of £8,900 to my mortgage?
I was informed today that the completion of my new build property, which was initially due to be finished this month, has been pushed back to the end of February 2021. The lady I chatted to said this was good news, as it meant I would still be covered under the current help to buy scheme, which expires in March 2021. When asked what would happen if the build completion date were to be pushed back again, she said that I would have to use the new scheme, which the government caps at £186,100 for the north east.
The property I am buying is actually being sold for £195,000. I am concerned that this will mean I will lose the property.
If the build is pushed back beyond the beginning of March, will I be able to still use the new HTB scheme for the first £186,100 of the property, and add the remaining balance of £8,900 to my mortgage?
Many thanks from a concerned first time buyer!
0
Comments
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From my reading as it stands I think the limit is the sell price ceiling to FTB using HTB. Could use this as an tool to drop the price down maybe?
It seems a bit arbitrary though doesn't it? Say you exchange in Jan then get delayed till April, what happens then ? Surely there's some sort of overlap for people completing right near the new phase 🤔0
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