HELP TO BUY EQUITY LOAN: PROS & CONS | ALL YOU NEED TO KNOW | MY EXPERIENCE | WHEN DOES IT END?
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- เผยแพร่เมื่อ 9 ก.พ. 2025
- HELP TO BUY EQUITY LOAN: PROS & CONS, ALL YOU NEED TO KNOW! WHEN DOES IT END?| MY EXPERIENCE...
Hey everyone! Todays financial video is all about the government help to buy: equity loan scheme. I have personally used this scheme to purchase my first property and I am always asked about the scheme and how I found it! Today I cover eligibility, the pros, the cons, what my personal thoughts are, do I regret it? would I recommend it?
I really hope you find this video helpful xx
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I love how this is both transparent and not unnecessarily long.
Great informative video Hazel, it is hard to get on the property ladder, these government schemes are great at helping people get on the property ladder especially first time buyers, which as long as you've done your research and weighed up the pros and cons can only be seen as a positive step to get on the property ladder , I was going to go down this route as I wanted a new build and like yourself i did a lot of research but decided it wasn't for me so instead I went ahead and bought my council property on the right to buy scheme, so at the age of 51 I'm now a homeowner ♥️
They are really helpful and thats amazing well done xx
Greatly appreciate your breakdown and sharing your experiences of the Equity Loan. When my mortgage advisor first mentioned it to me my heart stopped. Both paying for a loan AND a mortgage at the same time? Thankfully you explained it so much clearer than he did. Appreciate your openness!
Im so glad it helped!!
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The best ,smartest and fastest way to improve your score is through the expertise of Data scientist and Revo Hacker called John , he's an Ex-FICO Agent. Well, help yourself. If you want to qualify to buy a home quick, own a car and clear negatives, derogatory marks and hard inquires on your report. Mail him at [Jon@creditpatchup.com] Trust me his services is Fast and Yields Effective result within short period of time , Cheap Service Fee And Untraceable clean job done by him. Pay conscious effort to help yourself as ignoring your credit score won't help at all. You can tell him Fred referred you. He got me up to 822 and boosted my credit line to 200k so this is like a vote of thanks too. I'm forever grateful, anyone who is interested can contact him.
Increase of interest rate from year 7+ (at RPI) might be a con, but if you are renting a property, your landlord will most likely to increase the rent at RPI when renewing your tenancy agreement every year. So renting or owning with HtB, your monthly/annual outgoing would increase anyways, so HtB is not bad compared to renting (which is essentially wasted money).
Thanks for a good video!
My son has been asking me about "help to buy " and I did not know too much about it, But after watching your excellent and informative video I will be able to advise him. Thank you so much.
Im so pleased it helped!
Thanks so much for this video. It's nice to hear from someone who has actually done it! There's so much negativity out there about HTB and you really made it easy to understand!
You are welcome xxx
Thank you for this! Buying my first property with everyone telling me not to use help to buy. This helped reassure me of my decisions
Some really good information in this! One point of clarification, you can't rent out the complete property but you can have a lodger ie be living in the property and someone paying for a bedroom. £7500 of this income is also tax free.
I had seen this suggested online but is this confirmed by Help to buy? I would be looking at doing a similar thing to build up some capital to pay off the loan
Thank you for explaining all the different options a lot of people only criticise this scheme from their financial perspective. I want to use this scheme to get on the ladder and resale before the interest period. This really helps x
You are welcome❤️❤️
Really helpful and informative. Knowing how someone else went through this process only helps me and others looking to get on the property ladder. Thanks for sharing
You are welcome!
It’s hard buying on your own, the minimum wage requirement for a 1 bed is a joke
It is worth it as long as you are sensible in the first 5-6 years to clear your equity loan.
Hazel! This video sooo helpful. I'm a single mum looking to buy as soon as I get deposit together and this scheme seems like the best for me and you have made it so easy to understand! Bless you girl!
Thank you this was extremely helpful as l was considering buying my first house by next year and going for the help to buy option.
You have a good point and this has helped me go towards help to buy scheme as you mentioned it depends on personal circumstances. The 10% deposit and mortgage is daunting me as i don't earn enough to get a mortgage for 90% of the property. Thanks for the video👍👏
I’ve just come across your video Hazel and I must say what a young, intelligent young lady you are! V wise 😊 my husband and I are currently saving to invest in our first property, so I v much agree with your advice.
Awww thank you!!!! And good luck x
Well done for being so open and honest about something you’re currently going through! Lots of information in this video xx
We are on the verge of buying a new build house and are planning on using help to buy as it means that we don't need to wait another 2 to 3 years to get a 15% deposit together (which is what most banks are asking for now).
This video is very enlightening, when I read that you could pay the equity loan in 10% chunks, I thought that meant 10% of the actual loan. I thought "great, i could save 5000 every couple years and have it paid off in 10 years.
But now knowing that it means paying 10% of the value of the house, coupled with the fact that the loan goes up with the value of the house, I am starting to reconsider whether this is a good idea or not.
Another great video Hazel, wasn't aware of all of the fees attached. Thanks for making us all aware of the amount of hidden cost that is involved when paying back.
You are welcome!! X
These videos are so informative! Thanks Hazel. I'm trying to buy my first property in London by myself so these videos are a godsend.
Good luck!!🥰🥰
Thanks for the knowledge. I’m a lot more motivated to save for a property and explore various options. This does help
Great video! We used this when we bought our flat and now selling it. So this video has really helped! Xx
Ayleigh Ashe are you not paying off your loan equity?
You are welcome x
I'm in scotland so actually think it works differently. We only had to pay back once selling
Love your financial series Hazel! So helpful and easy to digest 🤎
Thank you❤️❤️
The loan is always 20% of the value of the home whether it goes up or down. You could remortgage if the house price dips in the first few years and pay the loan off the equity loan in full before any interest kicks in.
When you pay more in rent then you would pay for a mortgage its so difficult to save a deposit. Help to buy is the only chance I'll ever have to get on the property ladder.
Found this video and very informative.
We are looking at buying a 3 bed semi detached house for 178k (I live in the north haha) using this scheme and I am a little worried about the price rises year on year of the equity loan, need to think abit more about it I think
Hi Hazel, I have watched your videos before my application and followed all your advises. THANK YOU SO MUCH FOR ALL THE AMAZING POINTERS!
Now, I am thinking of paying my equity H2B loan, do you think I should take a loan to pay off the H2B so I can rent out my property? I am trying to see if that is a smarter way to do it.
Hay thanks this is just the help i needed, and easier for me to understand then other uploads I’ve watched, thanks ⭐️✨✨✨✨
So glad it helped xx
You should make a video on the new DMS "First Homes", which ultimately is likely to replace HTB and a lot more lucrative at c.30pc discount on new builds with minimal 'cons'. I am currently in process of buying with HTB, but wish 'First Homes' available right now, as it seems a lot better scheme from the initial proposal!
I hadnt heard of this until your comment! From a first read, it seems that you still have to buy back the discount.. so you may not incur interest like the HTB after X number of years but still owe money back which will increase with the property value!
Not sure you pay it back as such, you just resell for the discount level you were given, but no loans. Also priority is given to front line public service workers. DMS is actually in place already for some housing associations since the last years, but not part of one type of scheme. This will be a new country level scheme and sounds very impressive
Tom ahh ok what I read mentioned that you can staircase the property to purchase the additional bit?! But it was a random website so may be incorrect. I need to look into it a bit more really! It does sound very good from what you have said! Seems like a no brainer when compared to the shared ownership for example
Very very good video, this has swayed me in favour of help to buy
14:38 - how did you keep up to date with the price of your apartment for the first 18 months?
Great video Hazel, really informative and balanced explanation.
Do you have to have the full deposit before reserving your home? Or do you have a timeframe before you need it?
Hi did you find the answer ?
could you please do video of what is going on now as you are renting now nd the process of paying it back? thank you, great video
Great video, I wish I looked into the scheme more before going with it as our 5 years ends in October and have no savings to pay off the loan. We will probably have to end up selling the property 😔 xx
Speak to a mortgage adviser and see what can be done as you may have enough equity in your house to raise equity and clear it❤️
Thank you! I was unsure about the % and if it was fixed. this should help me out :)
Thank you for your video. Are you allowed to rent a help to buy property once you’ve fully paid the government loan?
thanks , this was well put together and easy to understand
The main opposition to Help To Buy is the theory that it props up an over inflated property market thus preventing prices from falling which would render Help To Buy useless.
This is a brilliant video. Love your explanation of it x
❤️❤️
This video has been a great help, with the current coronavirus issue I’ve been told I wouldn’t be accepted for a standard mortgage unless I have a much higher deposit so I’ve been looking into the equity loan but it’s so hard to find information from people who have actually experienced this. Thank you for the video and the helpful information.
The best ,smartest and fastest way to improve your score is through the expertise of Data scientist and Revo Hacker called John , he's an Ex-FICO Agent. Well, help yourself. If you want to qualify to buy a home quick, own a car and clear negatives, derogatory marks and hard inquires on your report. Mail him at [Jon@creditpatchup.com] Trust me his services is Fast and Yields Effective result within short period of time , Cheap Service Fee And Untraceable clean job done by him. Pay conscious effort to help yourself as ignoring your credit score won't help at all. You can tell him Fred referred you. He got me up to 822 and boosted my credit line to 200k so this is like a vote of thanks too. I'm forever grateful, anyone who is interested can contact him.
Super helpful, transparent and great to have a breakdown, thanks so much 😊
💗💗
Would you advise to put more down then the 5% and have a cheaper mortgage or keep my extra cash to bank to buy back the equity loan ?
Glad to see outers like myself I bought my first btl at 19 I'm 21 now I'm glad I did
Hi how to reduce the value of my property? I have help to Buy and I want to reduce the value of my property. I'm thinking to install solar panels and battery on credit do you think this will help thank you
Omggg thank you for uploading this! So informative ❤️ I requested for a video like this and you uploaded it😩💕
So welcome xx
I'd love to see a video about the help to buy shared ownership, I know that you haven't got personal experience but I'd. like hearing your thoughts
Got this coming soon!!! X
Buy alone, don’t wanna get stung when you break up.
Thank you so much for sharing! This was so helpful! I’m looking to use the HTB scheme on my first property and was only planning on being in it for 2 years before moving to a bigger place due to salary. My question is when I sell the property after 2 years as theres no interest would I still pay the original 20% of what I borrowed or will that increase if the house value does?
Also for the HTB scheme 21-23 do we still need to pay it back in two parts or full?
TIA x
It would be 20% of the current value when you sell whatever that is. Ive not heard of the 21-23 one xxx
@@hazelwoodx ok thats awesome thank you so much xxx
Hey! What did you mean by the £1 admin charge for your direct debits. Do you have to pay a direct debit for the equity loan or is this for something else? Sorry! Haha we’re looking to put a holding fee down soon but not sure which scheme to use 😩x
Yeah for the eq loan you pay £1 per month from day 1 as a admin charge to keep the direct debit going for the 5 years xx
Hazel Maria Wood what is the direct debit for sorry? 😩 I didn’t think you paid anything for the equity loan until you paid a lump sum? Or is it just a £1 direct debit only just for the sake of having a direct debit with them?😂 I’m confused sorry haha x
Yeah its literally £1 dd for the sake of it! It doesnt repay anything! Its just to keep the dd going before the loan interest is due in 5 years xx
Hazel Maria Wood that’s ridiculous 😂 £12 for absolutely nothing 😂 might be my only option though unfortunately 😩😂 thank you for these videos, they’ve really helped! We were going to do shared ownership but after watching both I think equality loan is the best option for short term first home! Fingers crossed I don’t go bankrupt in the next 10 years 😜😂 xx
Hi Hazel, thank you for this it’s very helpful! I’m a little bit confused with this bit can you clarify- if I was to buy a property using the help to buy and I remortgaged later within that 5 years before I started getting charged interest but the property value increased, does that mean I will have to pay extra to the government due to the property value increasing? Also congrats on your new home would love for you to do another vid of your new experience of how you did everything similar to this vid xxx
Hey! That is correct- you owe them 20% of whatever the value is at the point in which you repay the loan! And thank you xx
I thought the minimum repayment was 10%? Which, in your example, would be £4,000. And is much more doable. Did I misunderstand?
Its 10% of the property value x
Hi Hazel great video 👌👌 Regarding the costs like the valuation, solicitor fees, armin fees that you have to pay if you want to repay any chunk of the equity loan, do you know if you are liable for the same costs if you were to repay that loan when selling the property as opposed to just paying it off standalone?
Thank you for this, helping me advise new clients
Great video! Quick clarifying point; you mentioned the gov is entitled to 20% of profits from the increase in house value if you sell and still haven’t paid off the equity loan (e.g. if a 200k house bought on a 20% equity loan is later sold at a 10% higher value of 220k, the gov is entitled to 20% of your 20k profits i.e. 4K).
My question is, what if you’ve paid most of the equity loan off by the time you sell? E.g. what if you’ve paid off half the 20% loan, is the gov therefore only entitled to 10% of the profits now (i.e. 2k based on the example above). Or are they still entitled to 20% cos that’s how much you initially borrowed? If it’s the latter then that would suck :/
Yes you are right! Its based on the % of the loan outstanding so if you have paid half off and gov loan is 10% they will get 10% 🥰
Hi Hazel. Really like the video being so clearly explained. One question as regards not being able to sublet, is it possible to have a lodger instead simply having a verbal agreement?
Hi Really great video I am looking at my first house but I’m put off by a new build as I work in the sector and know the quality and issues they come with, can you use the equity loans on non new homes?
HI Hazel, really imformative thank you so much for the video. Just one question, when the scheme expires at the end of March 2021 and becomes only available for first time buyers, do you know if it will be exactly the same scheme or will there be some changes to it? My girlfriend and I see this as the only viable way to be able to purchase a property so really hope the scheme will run exactly the same. Thank you again :)
So to be clear if I borrow 20% of a house's value, and wish to repay it after 5 years. I will not owe the actual amount I borrowed, rather I would owe 20% of the house's current value?
Thats right!
@@hazelwoodx Thanks for the reply!
Thanks very much for this info! If you haven’t already could you do a video on how much you need income wise In order to be accepted for a hemp to buy mortgage? I’m ready to go for this scheme as I have the deposit but not sure if I will look good on paper for the mortgage side of things, thanks
In terms of payments, I underdone you have to put a £500 reservation; further to that do you only pay the deposit when the property is released alongside with the bank loan?
Hi, this may sound stupid but say for instance you buy a home for 200k and borrow 40k. The mortgage on the 150k is around £650 per month. What about the 40k you borrowed how much does that cost on top?
Wow, loads of useful info presented by a really beautiful lady :)
Awesome video Hazel!
Thank you!
Hazel thanks for your videos, so helpful.
In regards to dealing with the Help to Buy Equity Loan.
What are the strategies that you see to deal with it?
I mean, at the end of the 5 years tax-free loan period, we will have the option to pay back the government, but if we could not pay back in full this equity, what you have been seeing?
I am afraid that we end up in a difficult position to secure a remortgage, with a tight 15% equity in the property, so does it was clear to understand?
thank you so much for this! Subscribed x
This is very informative, thanks a lot! I've got a quick question though, for example I borrowed £40K(20% of property) and I'm planning to pay it within the 5 years period of interest free then by 5yrs the value of the house increased, am I still gonna pay £40K or will it depends on the new price of the house?
It depends on the new price of the house its 20% of the value when you repay!
Thank you!
Thank you Beautiful for the very informative videos.
Looking at Shared Ownership at the moment. Been renting for over 4 years now in Essex. Is Shared Ownership a good idea?. Thanks.
200k one bedroom apartment???? As a northerner that blows my mind. That would potentially get me a new 3 bedroom detached home here.
Mad isnt it!!!
Can I ask what happens if I decide to go ahead with garage conversion while still under the help to by.. Will they fine me if I do it without thier permession??
Hi hazel! Love your videos! I know you bought a new build property, I have seen a lot of people saying that they depreciate in value a lot and then you end up selling at a loss and leaving you in a huge amount of debt. Have you experienced a depreciation in value of your property? X
She actually addressed this point in the video, saying she saw a dip in property value, but then it rose again and is now slightly higher than the purchase price
Hi I loved your video, so informative!
Just one question though, how do repayments work? Will they be tied to the amount of the years the mortgage is set for? Can we decide to pay government loan more than the bank loan to finish it off quicker?
Thank you!
The best ,smartest and fastest way to improve your score is through the expertise of Data scientist and Revo Hacker called John , he's an Ex-FICO Agent. Well, help yourself. If you want to qualify to buy a home quick, own a car and clear negatives, derogatory marks and hard inquires on your report. Mail him at [Jon@creditpatchup.com] Trust me his services is Fast and Yields Effective result within short period of time , Cheap Service Fee And Untraceable clean job done by him. Pay conscious effort to help yourself as ignoring your credit score won't help at all. You can tell him Fred referred you. He got me up to 822 and boosted my credit line to 200k so this is like a vote of thanks too. I'm forever grateful, anyone who is interested can contact him.
Hi, my question is when you have paid off the 20% loan from the government (I understand this will need to be paid off in line with your mortgage) does that mean they no longer have equity in your home? So if you was to sell after 20 years for example and you have paid off the loan can you sell the house and the money is all yours or does the government still have that 20% equity?
Thanks
Really informative thank you!
Good advise and thoughts Hazel🙂
I’ve got a HTB isa and I believe you can only save 200 a month. What did you do to save more a month? Get another savings account ?
I just used a normal cash ISA x
If you think it will be over a year until you buy a property you could open a lifetime ISA, the most you can pay in each tax year is £4000 and like the HTB ISA has the 25% bonus, but the downside is you are charged if you want to withdraw that money for anything other than buying a property or withdrawing it when you retire, and also that the account has to be open for a year until you are eligible for the bonus. For me I hope it's under a year until im buying but in case it isnt ive opened a LISA with just £1 so the year is ticking down, and have until the end of the tax year to max out the £4k allowance. Its worth reading about on the money saving expert website. Otherwise i think just maxing out the £200 a month HTB isa and the best savings account you can find is the best option and what I'm doing too atm 🤞
Very informative and helpful !! Thanks hazel
Welcome x
Thanks for the info Hazel
Thats ok! 💕
i just had to subscribed , going through this in june 24
Very helpful, thanks. Just one question Hazel?so basically if we want, we can pay off the equity loan soon even before 5 years?
Yes you can!
Hey Hazel, really loved the content you shared. really helpful. About repaying the amount back to the government, you mentioned only 10% of the purchase price can be repaid, is it 10% per year or can we pay more but it has to be in Lump sums of 10%, just a little confused. Can we incorporate this into direct debits or do we have to pay it at the end of 5 yrs???
Hey! Thank you. Its 10% whenever you like - so you can pay 10% then another 10% anytime. Theres a full lengthly process it cant be paid monthly into the direct debit. You get a valuation completed on the house and have to appoint a solicitor to deal with it for you so its quite involved x
@@hazelwoodx thanks hazel....you are a star
Thanks for the thorough insight
Hi Hazel,
Thanks for the useful info... I would appreciate your reply to few doubts that I have mentioned below, please…
1) What if the agent that we are supposed to get the valuation done with, overvalues the property? Is this something we can appeal to or do anything against?
2) If one decides to sell the property in the fourth or fifth year for exactly the same money one purchased it for, do they still need to get the valuation done and incur all the cost involved (valuation charges, admin and solicitor fees) which one will have to incur if one decides to repay the HTB Government loan and not sell the property instead?
3) Can one still buy a second house if they have 3 years HTB Loan on their first property already active? Say if I will 100k lottery or inherit similar kind of money and wants to use that money as a deposit for my second house… is this allowed or will I have to clear the HTB loan first before buying any other property?
Many Thanks,
RKK
1 - I guess you can query with them but it isnt something you can appeal as such as they do market research to decide why it is valued at the amount it is. You could always get another value though.
2 - no you need a valuation to repay
3 - yes I believe you are able to buy another house (I think). Best to check with a solicitor but fairly sure this can be done
As a good rule of thumb, would it be best to take out the loan for as little as you can get away with - the minimum 5%? Or take advantage of the loan to be able to afford a better property - taking the full 20% would take away part of the monthly outgoing payment that would go towards a mortgage for that first 5 years...
Hi Hazel, your video was really good and understandable. Thank you for making a video like this. It's really a big help for everyone.
I have only one question, I hope you don't mind.
Am I allowed to buy/Mortgage another property while am still under the help to buy scheme. I mean, I'm still not paying my help to buy equity loan?
Thank you! So glad it helps. I am not 100% sure. I think it needs repaying before you can buy another property but its best to ask a solicitor on this point xx
@@hazelwoodx Thank you very much. I really appreciated..
Thank you for all this information Hazel! There’s just so much information on the internet and it’s good to hear from someone with first hand experience.
💗
So can you confirm. Don't you pay 1.25% interest per month???
Me and my girlfriend are currently looking to help two buy but we are also looking to do it out right Is it worth doing help to buy 👊🏼
What steps are you taking to repay the government loan? Are you planning to stay where you live or are you going to sell the property? X
Hello ☺️ As far as you know when going for a new build on the help to buy scheme do they want 3 months wage slips also? And also does the savings need to be in a help to buy is or can it just be in ur normal savings account
Yes i was asked for3 months slips. It can he in a normal account x
Can be* xxx
Hazel Maria Wood Thank you 😊
Hi, can you shed some light for me please.
So for example property is £200k.
5% deposit - £10k
20% loan - £40k
Total Mortgage- £150k
Do I need to earn enough for £200k mortgage OR £150k? What’s my actual mortgage?
Thank you
It will be the 150k mortgage you need to earn enough for :)
Hazel Maria Wood Thank you sooooo much, keep up the good work 👍🏼
So do u pay morgage and loan back at the same time
you dont pay the loan as such, you only pay the interest. unless you decide to pay 10% of the property value off at once
This is so helpful Hazel, thank you!!! My boyfriend and I are planning to buy and have started to think about this equity loan for a new build house. However, we think that we will sell within about 3 years due to starting a family in a completely different area and needing a bigger house. Do you still think this scheme is worth it when we know that we will be selling it within 3 years? I’m worried that we would be worse off afterwards if that makes sense :)
Hey! Someone i know did this and moved after 2 years! 🥰 properties can fluctuate in value so thats something to consider but people do often move after 3 years dx
@@hazelwoodx hey, thanks so much! That’s true! I was just worried as we’ll only put down 5% deposit and I’m scared of going into negative equity 😭 speaking to a mortgage advisor today so hopefully it all goes to plan! X
@@SophieSmout yeah its so hard to know especially with how the market is now. I have had my HTB flat for 2.5 years and i have made about 7-10K in profit if that helps! But obviously every property is different and the market is very uncertain right now but defo speak to the mortgage adviser❤️
@@hazelwoodx oooo that’s good to know, thank you!! Just thought I’d let you know that we spoke to a mortgage advisor yesterday morning and we would be able to purchase a 2 bed house using 10% of the equity loan on a 25 year mortgage so I’m absolutely buzzing! We viewed the houses straight after, got a mortgage in principal & reserved a plot today which will be finished in May/June so I’m over the moon. This video definitely helped me so thanks a lot 😃❤️
I want to buy my housing association home through the right to acquire, but, my home on zoopla has increased and is roughly £340-350k. Its honestly a crap area in London so I don't know why because I checked and saw in 98 it sold for 58k.massive increase. Thing is I'm a single parent on 30k with 5k savings, i have no chance of buy it....or are there other ways?
Thanks for sharing dear . Very helpful 👌🏾👌🏾👏🏾👏🏾
Thats ok❤️
Can you rent out your apartment if your on this scheme?
After repaying the loan
@@hazelwoodx 😒😒
I have one doubt ,that is ; if we fully repay the government's contribution before five years as small chunks..
Then whether we need to give the rise in the market value of the house .
Yes you do - you pay the current market value
Hi good morning I am thinking to buy I house but I don't know if I need to work full-time or part-time?
Hi hazel , thank you so much for your videos . I feel like this scheme can be a bit of a headache especially for a first time buyer but your videos really do help. In a simpler term can you give me a step by step of what to do. I heard that you would first go to a show room , tell them you want to go on the scheme ,apply online ,then go to your bank and that's it . Is this correct
I am so pleased that it helps! So for me personally, i found a new build i wanted. They put me in touch with a mortgage broker and he applied for it for me! It was really easy they did it all for me x
Can i pay a bit more deposit with help to buy scheme
Hi hazel how is your experience with your new apartment because lots of people are not happy with new build properties plz reply beacause I’m also interesting in buying anew build redrow apartment
Ive had a great experience personally! No major issues at all and any thing that was wrong they fixed very quickly!! I may do a video on it x
Hazel Maria Wood thank you so much for your reply and yes plz do a video as well
@@hazelwoodx Please do!! Could you let us know who the developer is too?
Questions;
1) So I'm getting the H2B equity loan. What happens if after 2 years I want to upgrade to a bigger home ? Can this be done? If so, Does the government get 20% equity in my new home without paying in the difference or do they chip in the extra cash?
2) I plan to remortgage my existing property to a buy to let while simultaneously seeking a new residential mortgage to upgrade to a bigger property. Is this possible and are there any issues doing this?
If the help to buy loan is an issue then if I remortgaged on a buy to let and pay off the loan. This should solve that issue, right ?
Then simultaneously get a residential mortgage to upgrade to a larger home. Anyone notice an issue with doing this?