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    • Badger27
    • By Badger27 6th Jul 18, 7:29 PM
    • 11Posts
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    Badger27
    Help to Buy Availability
    • #1
    • 6th Jul 18, 7:29 PM
    Help to Buy Availability 6th Jul 18 at 7:29 PM
    My partner and I are looking to buy a house with Help to Buy (Equity Loan) however we've been told by a sales person (of a developer) that we can only buy a house due to complete no later than March 2019 because the funding for after that hasn't been released yet....

    This seems slightly strange to me but if it's true does anyone know when the funding will be released?
Page 1
    • sal_III
    • By sal_III 6th Jul 18, 8:00 PM
    • 653 Posts
    • 666 Thanks
    sal_III
    • #2
    • 6th Jul 18, 8:00 PM
    • #2
    • 6th Jul 18, 8:00 PM
    The original end date of the HTB equity loan scheme was December 2016 but it was later extended to 2020. Whether it will be cut off in advance is anybody's guess.

    The easiest way to establish if the sales person is giving you false information (be it due to ignorance or simply lying) is to look for a development by a different company that is due after March 2019 and enquire.

    Or you can call your local HTB agency and ask them to confirm or deny the statement.
    • kingstreet
    • By kingstreet 7th Jul 18, 10:13 AM
    • 34,351 Posts
    • 18,658 Thanks
    kingstreet
    • #3
    • 7th Jul 18, 10:13 AM
    • #3
    • 7th Jul 18, 10:13 AM
    This isn't about the end-date of the scheme it's about developer annual allocations/returns to the HCA.

    Every year, a developer submits a plan for the number of properties it plans in the next twelve months and the HCA allocates it funds for the financial year. The developer can't exceed that annual allocation. Any property expected to be completed in April 2019 would be from the 2019/2020 allocation, not 2018/2019.

    You have been correctly informed and can check this by speaking to your local HTB Agent;-

    https://www.helptobuy.gov.uk/equity-loan/find-helptobuy-agent/
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
    • kingstreet
    • By kingstreet 7th Jul 18, 10:15 AM
    • 34,351 Posts
    • 18,658 Thanks
    kingstreet
    • #4
    • 7th Jul 18, 10:15 AM
    • #4
    • 7th Jul 18, 10:15 AM
    FWIW with three month validity of the ATP and a further six months for the ATE, you can't reserve a property on HTB if it won't complete within nine months.

    You can get an extension from the HCA if there's an over-run, but planned completion must be within nine months at the outset.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
    • Badger27
    • By Badger27 8th Jul 18, 5:14 PM
    • 11 Posts
    • 0 Thanks
    Badger27
    • #5
    • 8th Jul 18, 5:14 PM
    • #5
    • 8th Jul 18, 5:14 PM
    Thanks all
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