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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.
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Comments
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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
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