Qualifying for a second home Loan

Veel gestelde vragen | Help to buy London

May I buy a house outside the scope of the scheme? Yes, you can book a new house outside the schedule at any point. The SDLT is due at the moment of purchasing on the full amount of the house sale value. No other SDLT has to make payments for "staircase" refunds or refunds when the house is purchased.

SDLT is recommended that you allow for the full open house value of the home when purchasing a Help to Buy Home. Whose money will it be to pay for the reparations and ongoing upkeep of my house? It' s your responsability to fix and service your home. While some Help to Buy candidates may have to spend more waiting for a house that meets very special needs, others may be able to buy from a developer that enables previous employment.

Is there a restriction on the property I can buy? All you can buy is from these housebuilders. Total up to £600,000. Is it possible to sublease my help to buy a home? When you wish to sublease, you must first pay back the help to buy back own capital instruments.

You will also need the permission of your mortgagor and the agency's trustee). May I own other houses and buy a Help to Buy Home? That means you are supposed to be selling your present home (in the UK or abroad) if you climb up the stairs.

Furthermore, you cannot be connected with another real estate financial. When you can buy another home, you have to pay back the help to buy an equitymarlehen. Who' s the mortgagor? Post Sales Agent" is also the name given to the Hypothekenverwalter. If my affiliate leaves and no longer wishes to participate in the loan contract, what happens?

Your Agency's Mortgagor may issue a Declaration of Revocation which releases your affiliate from the requirement to pay back the loan at Equity. The conditions of your own funds mortgages will not change and your lawyer will have to give you a full explanation. Where are the main distinctions between the Help to Buy Equities loan available throughout England and the one in London?

Autumn Declaration of November 2015 announces an expansion of the London Help to Buy Equities loan from 20% to 40%. Can I raise my mortgages or take out another loan after buying my house? No without the authorisation of the Agency's Mortgagor. Additional advance payments must be authorised by the Agency's senior manager.

Your loan may be transferred to another qualified credit establishment with the authorisation of the Agency's manager (see page 17). Is it possible to prolong or modify the real estate? If your real estate is going to be for sale in the near term and enhancements have been made with the consent of the agency's real estate manager, these will be ignored when your real estate is appraised to find out how much to repay the agency.

Whether you have purchased your house alone or with others will determine. Is it possible to add or change ownership on Help to Buy properties? You will find the guidelines for post-sale transaction on the website of the Hypothekenverwalter after the point of sale. At present, it is possible to remove shareholders from the equities mortgages at the moment of release, but no new name can be added as this is classified as a new credit-approval.

Since help to purchase charges and interest is not considered as rental, they are not entitled to housing benefit. Before buying a Help to Buy Home, you should consult an external finance advisor. May I use a client's swap program?