Help to Buy Scheme

[AnnoyedByAlfieBear]

Does anyone know much about it? It seems OK, similar premise to a interest only mortgage in that it's payed back at the end of the term (or if you move).

If we were to move on, our equity would be smaller for the next house though. Is that right? So surely it's only good if you are getting a 'forever' house?

We desperately want to move to a bigger place and I'm trying to work out affordability.

Thanks!

The catch of the shared ownership is that There are many schemes that won't allow you to ever own more than 90% tops which means if you were to want to sell it wouldn't be an attractive prospect ( who wants to buy 90% of a house).
But it depends on your circumstances and the individual company.

Hang on sorry you aren't asking about shared ownership ! Sorry..

This scheme is helping to inflate another housing bubble which will pop as soon as interest rates rise. It is Gidiots only plan to raise GDP and it is doomed to fail because eventually they're going to have to stop QE and the banks will have to unilaterally raise interest rates to unsustainable levels in order to survive, and in an economy that produces not much other than 'money' that is disastrous.

Instead buy gold and silver. For reasons why look at who is buying actual gold and who is selling future gold, ie gold that doesn't exist. Germany wants their gold back from the US, the US want 7 years to repatriate it, which suggests they don't have it. As does the dumping of gold futures on more than 3 occasions large enough to suspend the markets.

Put simply, precious metals are vastly underpriced purely to keep the dollar up and the US banks from collapsing.

GoldMoney.com, SHTFPlan.com, Chris Hedges, Jan Skoyles and others all say the same.

Hi,

We've just used this scheme as we both work and save but it would have been another forever before we had enough for a full deposit at growing prices. We went for the help to buy on new build houses (different scheme than the help to buy on older/established houses).

The 20% the homes and communities agency puts in is interest free for 5 years. After that you pay interest annually. So in year 5 our projected interest on the 50k they put in is £148 for the year which you can pay monthly or annually. If you sell they get the percentage back.

What we're doing is putting some money away each month for the five years and remortgaging to include the 50k after the five years interest free. So if we save 15k over 5 years that will go to the homes and communities agency and we will remortgage to include the remaining 35k.

Hope this helps.

Thanks 19BEES