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help to buy

(4 Posts)
housesellingrant Fri 21-Apr-17 16:32:30

What are peoples thoughts on help to buy? My main concern is it is pushing the problem further down the line, if you cant afford it now what's the guarantee in future... DH is now looking at new builds and I think they are top end of budget, so less keen, but he keeps on about we can get help to buy...

TheGoodWife16 Fri 21-Apr-17 17:12:14

We used it to buy our current home which we're now selling (3 years later). Our long term plan however was always to sell within 5 years before the HTB element became repayable. Our property has increased by £47k during this time, so HTB has gained £11k. As long as you have a plan for repayment and know what you're getting into, it's a useful resource.

housesellingrant Fri 21-Apr-17 17:16:31

Great yours has increased good wife, part of my issue is where we are looking they are building so much the market maybe saturated.

TheGoodWife16 Fri 21-Apr-17 21:28:50

I will say that, on our estate alone, there are several properties for sale which have sat for months at the same price. I know some of them are HTB. You have to have HTB agreement to sell with an independent valuation price and dropping the sale price at your discretion to achieve a buyer isn't an option. That makes things tricky in a market that currently appears stagnant. We've been extremely lucky to (hopefully) secure a buyer, but it took 3 months with only 2 viewings. You're right to be cautious. Good luck with everything.

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