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scrappycocco

Help To Buy

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How are people using this scheme for buy to let and second homes when it requires you remove your name from any other property you have?

To be eligible for a Help to Buy Equity Loan property, you must:

Be able to demonstrate access to savings or funds to pay, if required, a deposit (which may be between 5% and 55% of the purchase price, legal fees, stamp duty and costs of moving)

Be purchasing a property costing £600,000 or less

Have a good credit history

Take out any mortgage with a qualified lender (e.g. a bank or building society)

Remove your name(s) from any other property deed prior to or at the point of completion of your new property if you are a home-owner wishing to buy a larger property for your family

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How are people using this scheme for buy to let and second homes when it requires you remove your name from any other property you have?

To be eligible for a Help to Buy Equity Loan property, you must:

Be able to demonstrate access to savings or funds to pay, if required, a deposit (which may be between 5% and 55% of the purchase price, legal fees, stamp duty and costs of moving)

Be purchasing a property costing £600,000 or less

Have a good credit history

Take out any mortgage with a qualified lender (e.g. a bank or building society)

Remove your name(s) from any other property deed prior to or at the point of completion of your new property if you are a home-owner wishing to buy a larger property for your family

Transfer joint owned property to wife, thus taking name off deed. Then apply..... offer sob story about 'separation' in the unlikely event the drone processing the application asks any questions. Simples.

There used to be a 'first-time buyers allowance' in ROI years ago and lots of couples availed of it twice by buying separately back in the days of crazy lending.

Edit clarity

Edited by John The Pessimist

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