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Target Help to Buy - Redeeming in full
RoadToRiches
Posts: 221 Forumite
Contacted a solicitor to fully redeem on the HTB 20% equity loan I have on my property at the moment. I am in year 7 and want to clear it now, I have funds agreed in principle with the bank.
When I bought the house I remember paying SDLT, but don't remember how much if it was for and whether it was for the full value of the house at the time.
I am awaiting a RICS valuation to come through, I am not moving just redeeming. House prices have inevitably risen since I purchased the property and now I am wondering if any SDLT would be due on completion or not?
When I bought the house I remember paying SDLT, but don't remember how much if it was for and whether it was for the full value of the house at the time.
I am awaiting a RICS valuation to come through, I am not moving just redeeming. House prices have inevitably risen since I purchased the property and now I am wondering if any SDLT would be due on completion or not?
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Comments
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No. You are not making changes to the ownership. You already own 100% of the property. You are simply repaying a secured loan.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, 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. Please do not send PMs asking for one-to-one-advice, or representation.2
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