We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Paying back Help to Buy Loan
Andy131313
Posts: 1 Newbie
Is it best to over-pay on my mortgage and then re-mortgage to cover the help to buy loan in full. Or save up some cash to put down say 50% of the H2B value and re-mortgage for the rest at a lower monthly payment? Thanks in advance.
0
Comments
-
Depends on whether you can obtain a better rate of interest on your savings than you pay on your mortgage. Chances are that overpaying the mortgage is the best route. What's your current mortgage mortgage product? Possible that overpaying will improve the LTV and as a consequence potential interest rate.1
-
You will get more benefit by buying out quickly if property values are rising and not buying out if property values are falling.
This is the key question. Not how you buy out.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.1
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.9K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 247K Work, Benefits & Business
- 603.6K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards