Joint Purchasing a Second Property when I have existing Solo Property with HTB Loan?

James831

Hi there,

I bought a flat myself as a sole applicant last year under Help to Buy Equity Loan - I have not paid the loan back yet but my repayments are very affordable.

My partner and I are looking potentially in the next 2-3 years to move outside of London and purchase a home together. I understand I cannot rent out my HTB Flat while there is an existing loan so I do not intend to do this.

However, I'm assuming I am still allowed to purchase a home with my partner with a joint mortgage?

The plan would be ideally that my partner and I would live in the house for half the week and live in my flat in London for the other half.

Hoping people can give me some advice - thank you!

amnblog

The H2B Guide page 5 says.

The property purchased must be your only residence. Help to Buy is not available to assist buy-to-let investors or those who will own any property other than their Help to Buy property after completing their purchase.

silvercar

A way round would be to go on the mortgage but not the deeds of the new property. Of course, there are risks to this, particularly if you are not married.