Anyone successfully used/knows a lot about Help to Buy?

Started by Nat, July 21, 2014, 11:09:57 am

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Whilst I'm in a nice rented place, I really want to own my own place, even if it's tiny.

Has anyone here successfully used the government's Help to Buy scheme, or knows anything about it?  I've looked on their website and have fallen at the first hurdle - there are two types and I don't really know what the difference is an what it would mean to me!
Rear Admiral Lieutenant General Keller

Lord Danoir the first

Can't offer any help, just wanted to wave hello  :wave: and tell you how pretty you probably look today.

Good luck with the house buying thingy

Andy M

karl might be able to help and give you some ballpark mortgage numbers at same time


Best to know your spend power beforehand. You rent so no doubt have a good idea of outlay per far as I can see the schemes are so protracted your Grandkids will have to go and pay your last payment...


Got a couple of contacts from my last housing scheme who may be able to point you in the right direction I'll ask.

"Do you think God gets stoned? I think so... Look at the platypus." - Robin Williams RIP


you need 5% of the deposit.  the government loan you the rest for the first 5 years.  It is for first time buyers, and any other buyer as long as they don't own another property or are selling theirs.  Can't be used for buy to let.  After 5 years you need to be able to keep paying the mortgage AND start paying back the loan. KarlV is probably your man.


Thanks peeps, very kind!  My debt will die with me Alzo - no grandkids here!
Rear Admiral Lieutenant General Keller


Quote from: Nat on July 21, 2014, 01:44:31 pm
Thanks peeps, very kind!  My debt will die with me Alzo - no grandkids here!
Forgive me if my post seemed was intended as a go at the scheme situation as opposed to your desire to own your own home. I wish you well on that front...and I hope it is many many decades before your debt dies with you.


there is a second type of help to buy i was looking it where you put down 5% and the government underwrite the mortgage company 20%, so in effect you have a 95% mortgage with less risk to the lender. However looking at the rates they sucked, but does mean you can get a mortgage if you only have a 5% deposit..