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juvenal

Can My Wife Buy Our Second Home On Help To Buy?

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Devil's advocate notion. My wife is financially independent of me, and is taxed separately. If our home is in my name, can she buy a second home for us in her name? If not, why not?

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Im sure she could get a deal at any mortgage shop in the High Street. With or without this scheme.

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Devil's advocate notion. My wife is financially independent of me, and is taxed separately. If our home is in my name, can she buy a second home for us in her name? If not, why not?

Do not advertise her contact details on this forum! There are some unscrupulous fake bassoon salesmen here!

Obviously if your wife is elected, I am sure she can do it, and bung it on expenses! :blink:

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Devil's advocate notion. My wife is financially independent of me, and is taxed separately. If our home is in my name, can she buy a second home for us in her name? If not, why not?

I suspect that the honest answer is "who knows?" For all I know, your cat could get a mortgage. I've wondered myself whether to liquidate assets and give up. So far, luckily I suspect, my personal situation says "no, whatever you think is going to happen regarding the market."

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Northern Rock and others GUARANTEED no checks before it all crashed.

This is why I disagree with the use of the word 'fraud' that is oft used on here.

The leveraging and descent down the quality ladder by lenders was not only transparent but advertised to us all by them .

Help to buy may be potentially the most comically ill thought out ( or possibly simply corrupt) method ever conceived in order to create a sugar rush pre election but in fairness to Gidiot he's wearing his dunce hat pretty openly on this one

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Re the original OP - Yes, have her live in it for six months whilst you 'sort out your problems' and then she moves back in with you. Stops any problems with it being a pesky second home. Happy days! You did nothing wrong, sorted out your relationships after a trial sepertation, and you get a house!

Then sell the story to the Mail as to how insane Osborne's policy was in the first place.

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Re the original OP - Yes, have her live in it for six months whilst you 'sort out your problems' and then she moves back in with you. Stops any problems with it being a pesky second home. Happy days! You did nothing wrong, sorted out your relationships after a trial sepertation, and you get a house!

Then sell the story to the Mail as to how insane Osborne's policy was in the first place.

According to the official guide you must follow the rules or you may get prosecuted - although I believe that when I see the first court case. Who is going to police it after purchase - as until year 6 you have no further contact with the provider (i.e. when you start paying interest).

http://www.homesandcommunities.co.uk/sites/default/files/our-work/help_to_buy_buyers_guide_190713.pdf

The property purchased must be your only residence!! Help to Buy is not available to assist buy-to-let investors or those who will own any property other than their Help to Buy property after completing their purchase.

You cannot rent out your existing home and buy a second home through Help to Buy.

Applicants who make fraudulent claims for Help to Buy assistance will be liable to criminal prosecution.

Fraudulent claims will always require immediate repayment of the Help to Buy equity loan assistance.

Q Can I sublet my Help to Buy home?

No. Help to Buy is designed to assist you to move on to or up the housing ladder. If you wish to sublet, you will first have to repay the Help to Buy equity loan assistance.

In exceptional circumstances (e.g. a serving member of the Armed Forces staff whose tour of duty requires them to serve away from the area in which they live for a

fixed period, then sub-letting can be considered. In these circumstances you would also require approval from your mortgage lender).

Q Can I own other homes and buy a Help to Buy home?

No. Help to Buy is designed to assist you to move up the housing ladder and must be your only residence. This means you will be expected to sell your other home

!

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My dog's looking good to qualify- I read in the US that some dogs were given mortgages and Osborne is desperate so what's not to like?

I fairly sure that almost anyone will be allowed to participate- after all, that is the point isn't it?

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My dog's looking good to qualify- I read in the US that some dogs were given mortgages and Osborne is desperate so what's not to like?

I fairly sure that almost anyone will be allowed to participate- after all, that is the point isn't it? :lol:

Corrected.

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According to the official guide you must follow the rules or you may get prosecuted - although I believe that when I see the first court case. Who is going to police it after purchase - as until year 6 you have no further contact with the provider (i.e. when you start paying interest).

http://www.homesandcommunities.co.uk/sites/default/files/our-work/help_to_buy_buyers_guide_190713.pdf

The property purchased must be your only residence!! Help to Buy is not available to assist buy-to-let investors or those who will own any property other than their Help to Buy property after completing their purchase.

You cannot rent out your existing home and buy a second home through Help to Buy.

Applicants who make fraudulent claims for Help to Buy assistance will be liable to criminal prosecution.

Fraudulent claims will always require immediate repayment of the Help to Buy equity loan assistance.

Q Can I sublet my Help to Buy home?

No. Help to Buy is designed to assist you to move on to or up the housing ladder. If you wish to sublet, you will first have to repay the Help to Buy equity loan assistance.

In exceptional circumstances (e.g. a serving member of the Armed Forces staff whose tour of duty requires them to serve away from the area in which they live for a

fixed period, then sub-letting can be considered. In these circumstances you would also require approval from your mortgage lender).

Q Can I own other homes and buy a Help to Buy home?

No. Help to Buy is designed to assist you to move up the housing ladder and must be your only residence. This means you will be expected to sell your other home

!

So flawed a child could get round it.

Your wife and you own a house - house A. You 'seperate'. Wife gives you full ownership of House A. Wife buys house B using Buy to Rent. Who would question a women's right to feel secure in her own home during a trial seperation? Happy days, after six months you decide to get back together. Wait, what's this? You can't own another home? That's OK, you both have a house each. No one is doubling up.

You live together in House B, rent out House A, and thank the goverment that an idiot policy meant other taxpayers were helping to build your property empire...

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  • 244 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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