Thanks for this. It's crazy how complicated, convoluted, and expensive the repayment process is! Our HTB equity loan was just under £70k(!) so the only way to feasibly pay it back would be though remortgaging once the current rate ends, or by selling up.
i know , mines 75k , hoping to chip this in half and roll it over to my next remortgage , overpaying my mortgage now to make room for me to carry it over
@@lukmanm5380 recently remortgaged (before the Truss mob came in) and paid off the loan. It's put our payments up by a few hundred quid but feels good to have it sorted. Target HCA who manage the help to buy we're a bit of a nightmare, and held the entire process up by a good few weeks
Is it worth waiting with major transformations of the property until its paid off to keep it's value low as possible so you have less to pay back? And how long typically do you have to pay it off?
Well done for paying of the loan, this is so informative.💕 I live in Abu Dhabi but when I'm back I'm trying to decide what my options are if i want to go down the help to buy or just the normal route.
Hi Hazel, can you do a video explaining how you did consent to let? I’m currently saving for my first home and looking to do something similar in the future.
Hi Sophie, I don’t know if you’re still advising on this process. What do I have to give the solicitor? For example my job contract, council tax, 9 months bank statements?
I had no idea you had to pay interest or pay it back!! I currently have the help to buy isa and have been saving into it to buy my first property! Thanks for the advice
Hey, love your finance videos! Would love to see you discuss 5% deposits now that they’re becoming popular again and any disadvantages to this as I’m currently looking at buying a flat with a 5% deposit but not a new build.
This video is really informative and so glad I bumped into it. Can I just ask when you submitted you documents to the solicitor, what documents do they need in order to process? Because my partner has a loan he’s paying for will they want to know this even though we’ve got the money in the savings?
hey, really helpful video, thank you! I tried to do some research but I was trying to find out if i can use the money made from the sell of the property to pay the help to buy scheme? Not sure if you have any information on that. Thanks for your help.
@@hazelwoodx did you have to apply for consent? Not sure if youre allowed to talk about tax & interest% but that would be really useful if you do do a video Xx
Yes I did have to apply for it with the lender! There was a fee to do so also. And I believe I could, I will have a think as tax as a whole is very complex as there are so many types but I could think about doing a basic video on what you pay as an employee or something like that! Xx
Thank you for this video. It’s a great help. It’s really hard to find lawyer for me, can you suggest any. Companies? Also some one said to me we have ho so all the surveys again. Is that true?
Hi , it’s very helpful your video. Would you mind to tell my if you can repay your government loan in 2 years or it is just possible when it pass 10 years
The issue is that you would need to repay HTB within 5 years to avoid the interest, if investing you need to be aware there is risk with volatility so in the short term if you need to withdraw funds its typically not recommended to invest unless you can afford to withstand losses and hold the money for a medium to longer term
