We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 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!
Help to buy scotland

harttohart27
Posts: 1 Newbie
Hi, we bought our house in 2014 we were offered help to buy which we eventually agreed to
when we purchased the house in 2014 we paid £285,000 and used 20% help to buy which worked out at £57,000.
we know wish to buy the 20% back which will now cost us £100,000 as we have have upgraded the property, i feel this is like legal money lending as if we had got a loan we would not have paid that much interest, is there anything i can do to cut the amount i have to repay.
when we purchased the house in 2014 we paid £285,000 and used 20% help to buy which worked out at £57,000.
we know wish to buy the 20% back which will now cost us £100,000 as we have have upgraded the property, i feel this is like legal money lending as if we had got a loan we would not have paid that much interest, is there anything i can do to cut the amount i have to repay.
0
Comments
-
I doubt theres anything you can do the rules will be the same for everybody, i used the shared equity scheme in Scotland and the government took their 20% back when i sold, as they should. It also doesn't look too unreasonable just based on average house price increases over a decade, regardless of any upgrading. You would have had no ability to get a 57k loan, hence using help to buy, and the implications of spending on upgrades before buying back should have been carefully concidered at the time.{Signature removed by Forum Team - if you are not sure why we have removed your signature please contact the Forum Team}0
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 350.4K Banking & Borrowing
- 252.9K Reduce Debt & Boost Income
- 453.3K Spending & Discounts
- 243.4K Work, Benefits & Business
- 598K Mortgages, Homes & Bills
- 176.6K Life & Family
- 256.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards