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2018 Help to Buy HCA Equity Loan 20% profit
gidgetsprinkles
Posts: 2 Newbie
Hi, I was wondering if anyone knew what happened if you paid back the 20% equity loan within the 5 year period, in regards to the 20% profit the government are entitled to. If you pay the loan back in full before the loan starts accruing the interest, does this mean the government are not entitled to 20% profit on the re-evaluated price (assuming the house increased in value)?
We are just debating what to do with ours, and would prefer to remortgage and put the 20% loan on top of a new mortgage. We plan to speak to a broker about that element, but I am not clear on what happens with any profit we are set to make.
0
Comments
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No. It’s 20% of current value if you want to pay it off regardless of when you pay it back.0
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You will need to get a RICS surveyor to ascertain the current market value of your home, and Target will want 20% of that figure.0
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