2 years since we bought the house and it's time to remortgage as our fixed rate is ending.
Our incomes have gone up and LTV has also gone up due to increased house prices. We'd like to pay off the Help to Buy loan 100% by taking out a bigger mortgage, so we can keep the equity for ourselves in future before it goes up even further. (Online mortgage calculators have confirmed we should get offered enough to afford this)
But I can't figure out how we actually pay the damn thing back! Dr Google has not really helped. Something to do with a Help to Buy agent?! I assume we'll need a solicitor/conveyancer... do we just call a solicitor and tell them to work their magic or is there something else we should do to get the ball rolling? Just waiting for a Decision in Principle from a new mortgage lender in the next few days so need to get this show on the road!
Hope someone can help as I've been struggling to find answers online... (maybe they don't expect anyone to ever pay the bloody things back - as long as house prices increase the amount you owe just goes up and up and up!)
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How the hell do we pay off our Help to Buy equity loan?!
19 replies
PurpleTreeFrog · 17/11/2015 21:49
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