{"id":42607,"date":"2017-02-02T14:00:23","date_gmt":"2017-02-02T07:00:23","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/i-want-to-repay-my-help-to-buy-loan-in-order-to-let-my-house\/"},"modified":"2017-02-02T14:08:55","modified_gmt":"2017-02-02T07:08:55","slug":"i-want-to-repay-my-help-to-buy-loan-in-order-to-let-my-house","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/i-want-to-repay-my-help-to-buy-loan-in-order-to-let-my-house\/","title":{"rendered":"I want to repay my Help to Buy loan in order to let my house"},"content":{"rendered":"


\nHelp to Buy prevents borrowers from renting out their properties, so I want to increase my mortgage to pay off the loan Q Due to a change in circumstances I am looking to rent out my house. However, because I have an equity loan from the Help to Buy scheme, this is forbidden. As a result I\u2019m looking to repay my Help to Buy equity loan but don\u2019t know how to go about doing this. Do I contact the mortgage provider or a solicitor? Also, once my mortgage repayments increase does this mean the house is fully mine or is this not the case until its fully repaid? JDA Even though you had help in the form of an equity loan from the Help to Buy scheme and a mortgage from your lender, the house is already fully yours, as you will be registered as the legal owner with 100% title to your home. Your mortgage lender and Help to Buy agent do not become joint owners with you. However, to protect the loans they make to you, your mortgage lender will take a first charge over the property and the Help to Buy agent will take a second charge over it to ensure that if the house is sold, they get enough of the sale proceeds needed to repay what you owe them. Continue reading…
\n
\nSource : theguardian.com
\nRead more…I want to repay my Help to Buy loan in order to let my house<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Help to Buy prevents borrowers from renting out their properties, so I want to increase...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-42607","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-b5d","jetpack-related-posts":[{"id":113433,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/should-we-take-out-the-maximum-help-to-buy-equity-loan\/","url_meta":{"origin":42607,"position":0},"title":"Should we take out the maximum help-to-buy equity loan?","date":"January 6, 2020","format":false,"excerpt":"\r A reader looking to buy a property in London seeks advice on whether or not to go with a higher mortgageQ My partner and I are looking to buy a property in London using the help-to-buy scheme, which means we can pay a deposit of as little as 5%\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":77684,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/should-i-use-the-help-to-buy-scheme-for-a-new-build-home\/","url_meta":{"origin":42607,"position":1},"title":"Should I use the help-to-buy scheme for a new-build home?","date":"January 22, 2018","format":false,"excerpt":"\r I\u2019ll need to repay 12.5% of the value when I pay the loan off \u2013 I might lose out if it\u2019s worth more Q My wife and I have reserved a new-build property in Surrey costing \u00a3600,000. We are now considering whether or not to use the help-to-buy scheme.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":185,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/can-we-remortgage-to-pay-off-the-equity-loan-on-our-home\/","url_meta":{"origin":42607,"position":2},"title":"Can we remortgage to pay off the equity loan on our home?","date":"November 5, 2015","format":false,"excerpt":"\r Property prices are rising so my fiance and I would like to pay off our Help to Buy loan but are unsure whether a remortgage is the best way to do thisQ My fiance and I have a joint mortgage on a new-build home in Scotland. 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My mortgage adviser has proposed that, to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":132230,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/should-our-savings-go-towards-the-help-to-buy-loan-or-overpaying-a-new-mortgage\/","url_meta":{"origin":42607,"position":4},"title":"Should our savings go towards the help-to-buy loan or overpaying a new mortgage?","date":"December 5, 2022","format":false,"excerpt":"\r Our five-year fixed-rate deal ends soon, we have saved \u00a3100,000 and need the best remortgage strategyQ My husband and I purchased a property in May 2018 for \u00a3600,000 using the London help-to-buy scheme. We took out the maximum help-to-buy loan of \u00a3240,000 and put in a \u00a330,000 deposit. 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