Help to Buy & Student Loan Payoff

NixBell

Hello

I have a help to buy mortgage and a student loan. I have been offered a job overseas and was wondering:
Which loan should I pay off first? 

Do I have to pay my student finance while I’m overseas? 

Pixie5740

NixBell said:

Hello

I have a help to buy mortgage and a student loan. I have been offered a job overseas and was wondering:
Which loan should I pay off first? 

Do I have to pay my student finance while I’m overseas? 

Yes, you have to continue repaying your student finance when you move overseas. 

https://www.savethestudent.org/student-finance/repaying-your-student-loan-from-abroad.html

If the HTB mortgage involves an equity loan then it will be repaid when you sell the place. If the intention is to let the property whilst you live overseas then it is highly likely you will have to repay the equity loan first. 

A Help to Buy: Equity Loan is designed to help you to move onto, or up, the housing ladder. It will need to be your only residence until you have repaid your equity loan. You may still be able to rent out a room in your home, as long as you continue to also live in the property.

There are some exceptional circumstances where subletting is allowed. To find out more about this, contact the Help to Buy: Equity Loan administrator. 

https://www.helptobuyagent3.org.uk/help-to-buy-schemes/help-to-buy-equity-loan-frequently-asked-questions/

Azazin

I’d say it’s better if you pay both.

Azazin

I’d say it’s better if you pay both. If you will receive a loan, then just pay off all your checks. I was in a similar situation two years ago, but my problem was that my bank wasn’t giving me a loan which really messed with my plans. That is why I decided to find a new one, and luckily I was able to find everything I need on this website  Here you will be able to pick a bank that will accept a loan.