[Finance] Help to buy mortgages

[happypig]

Has anyone had a "help to buy" mortgage that they've settled when moving to a new home ? If so, did your solicitor/conveyancer deal with, or give guidance on, getting an independent valuation ?

 

[beefypigeon]

Not exactly the same for me but I am midway through a remortgage and as part of this I am paying off my Help 2 Buy loan.

You do unfortunately need to get, and pay for yourself, an independent valuation from an approved help 2 buy accredited solicitor.... at least I had to. Managed to find a solicitor to do this for me for £240 which was the cheapest I could find when shopping around.

 

[Toongull]

Not exactly the same for me but I am midway through a remortgage and as part of this I am paying off my Help 2 Buy loan.

You do unfortunately need to get, and pay for yourself, an independent valuation from an approved help 2 buy accredited solicitor.... at least I had to. Managed to find a solicitor to do this for me for £240 which was the cheapest I could find when shopping around.

Yep that’s what I had to do when I sold my house. Fairly easy process, you have to let Target (Help to buy company) know you’re planning to sell. Then get an independent property survey from an accredited solicitor. Once done forward it to Target and they will let you know the amount you have to repay. It may end up being less than you original loan amount as was my case.

One thing to be aware of is most property surveys are only valid for 3 months so if it takes longer for the sale to go through you may end up having to fork out for another report.

 

[happypig]

Thanks chaps, did your solicitor advise you of the need to get the valuation or did you already know ?

 

[beefypigeon]

My mortgage broker advised me of the need to do it this way - bit of a ball ache but so far the process hasn't been too bad. I'm actually waiting for Target to imminently confirm that all has been finalised and handed back to the solicitor for processing.

I've managed to have a bit of a result as I had my property valued for my mortgage application 3 months prior to the H2B valuation when the value was a lot higher and would have had to have paid back a lot more to Target. I'm paying back close to the original value of when I bought the property now and believe I am due to pocket the surplus difference!

 

[Paulie Gualtieri]

Has anyone had a "help to buy" mortgage that they've settled when moving to a new home ? If so, did your solicitor/conveyancer deal with, or give guidance on, getting an independent valuation ?

Used HTB initially and paid off their charge a few years back

Have a look on the Target website for next steps

You will need an independent HTB valuation performed - if you are near Haywards Heath I recommend FP Surveying, £199.99 and valued very much in my favour