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Help to Buy Conundrum!
Bennettalice95
Posts: 1 Newbie
Both my partner and I bought our properties through help to buy (equity loan). We bought these properties before we were together. Myself, 2 years ago and my parter 3 years ago.
We now want to move in together. Help to buy have said we cannot rent the property the only exceptions are a) abroad with armed forces b) looking after an ill relative or c) work has made me relocate. (Though I was sure moving in with a partner was an exception!!).
So we cannot rent, but if we sell one we are penalised by our mortgage provider as we are both inside our fixed mortgage period and will lose money incurring penalties. Therefore, it's looking like the only option is to have an empty property if we want to live together.
Is there advice on appealing to help to buy or any ideas of anyone having been in a similar situation?
We now want to move in together. Help to buy have said we cannot rent the property the only exceptions are a) abroad with armed forces b) looking after an ill relative or c) work has made me relocate. (Though I was sure moving in with a partner was an exception!!).
So we cannot rent, but if we sell one we are penalised by our mortgage provider as we are both inside our fixed mortgage period and will lose money incurring penalties. Therefore, it's looking like the only option is to have an empty property if we want to live together.
Is there advice on appealing to help to buy or any ideas of anyone having been in a similar situation?
0
Comments
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Maybe split the time between both properties until the fixed period ends.0
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You need to crunch the numbers it may not be as bad as you think once they drop through.
P1,P2 properties
Which is the preferred property to keep
For both
Some Key information to get started.
Lenders
Amount owning
RATE
ERC(%) and when it changes to a lower value
ERC free overpayments and date they reset.
full term
payment
original H2B amount estimate of H2B now
Cost to run the property empty
Now a bit of a guess but where do you think prices will be going in the next couple of years
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Are either of them 2 bedrooms? You could get a lodger in one of them and spend some there and some time at your partners.0
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