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HELP TO BUY EQUITY LOAN: HOW TO REPAY! ALL YOU NEED TO KNOW | THE FEES, PROCESS & METHODS TO REPAY!
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- Опубліковано 17 сер 2024
- HELP TO BUY EQUITY LOAN: HOW TO REPAY! ALL OF THE FEES, PROCESS, TIMESCALE & METHODS TO REPAY!
Hey everyone and welcome back! Today we are discussing all things Help to Buy and I will be running through the Equity Loan. I will cover off all of the fees involved including the Target admin fee, solicitor fees, surveyor fees etc. I will also be going through how you repay the loan - the exact step by step process and the order in which this happens, how to do this, what you need, the timescales, when to repay etc! I really hope you find this helpful.
Previous videos mentioned:
All about the help to buy pros and cons • HELP TO BUY EQUITY LOA...
How I saved to repay the loan 40K in 2 years • HOW I SAVED £40,000 IN...
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We paid our HTB loan last year and your videos hugely encouraged us to do it so thank you 😊 xx
This is amazing!!! Huge congrats 💗💗💗
Well done, I’m buying my first home on help to buy in a few weeks 🙈 this equity loan is scary
Thanks for this. It's crazy how complicated, convoluted, and expensive the repayment process is! Our HTB equity loan was just under £70k(!) so the only way to feasibly pay it back would be though remortgaging once the current rate ends, or by selling up.
i know , mines 75k , hoping to chip this in half and roll it over to my next remortgage , overpaying my mortgage now to make room for me to carry it over
@@lukmanm5380 recently remortgaged (before the Truss mob came in) and paid off the loan. It's put our payments up by a few hundred quid but feels good to have it sorted. Target HCA who manage the help to buy we're a bit of a nightmare, and held the entire process up by a good few weeks
@@its_just_lewis the comfort knowing you can keep all the rising equity and never have to deal with Target again, has to be a win.
Ugh yes another finance video!!!☺️☺️.. I have missed your finance videos ❤️
💗💗💗💗
Fantastically informed! This is really putting me off buying a new build!!
don't!
wow the best video on this topic bar none , thank you!
Hi Hazel, can you do a video explaining how you did consent to let? I’m currently saving for my first home and looking to do something similar in the future.
Well done for paying of the loan, this is so informative.💕 I live in Abu Dhabi but when I'm back I'm trying to decide what my options are if i want to go down the help to buy or just the normal route.
I had no idea you had to pay interest or pay it back!! I currently have the help to buy isa and have been saving into it to buy my first property! Thanks for the advice
Sooooo helpful, currently tipsy trying to manifest my life on a Friday and this has helped Hazel thanks!🤣💕
Hehehe 💗💗
This is really informative and helpful Hazel x 💕
You explained this so clearly! Great video 😊
Thank you💗💗💗
Is it worth waiting with major transformations of the property until its paid off to keep it's value low as possible so you have less to pay back? And how long typically do you have to pay it off?
Hi Sophie, I don’t know if you’re still advising on this process.
What do I have to give the solicitor? For example my job contract, council tax, 9 months bank statements?
Amazing thanks so much for the info! Hoping to be able to do this option early next year 🙌🏻🤍
Thats ok! Thats an amazing goal💗💗
Hey, love your finance videos! Would love to see you discuss 5% deposits now that they’re becoming popular again and any disadvantages to this as I’m currently looking at buying a flat with a 5% deposit but not a new build.
Thank you Hazel for the advice and insight👍
Glad it was helpful!
Thank you for sharing this information!! I am looking into buying a flat n I do believe this is going to help me a lot thank you Hazel 🙏🏾🙏🏾
❤️❤️❤️❤️
This has helped me so much thank you!
Woooo keep it coming girl xxx
hey, really helpful video, thank you! I tried to do some research but I was trying to find out if i can use the money made from the sell of the property to pay the help to buy scheme? Not sure if you have any information on that. Thanks for your help.
I really do like your financial videos, would you be so kind to share more of them?
Thank you! What sort of topics would you like?
Saving to buy real estate and starting a business.
This video is really informative and so glad I bumped into it. Can I just ask when you submitted you documents to the solicitor, what documents do they need in order to process? Because my partner has a loan he’s paying for will they want to know this even though we’ve got the money in the savings?
I cant remember im afraid as filmed this years ago now!😫
Please can you do a video on converting to a buy to let mortgage? All the considerations and the process etc?
This isnt something I know about as I have consent to let, I didnt convert to BTL... but maybe I can research into it!
@@hazelwoodx did you have to apply for consent? Not sure if youre allowed to talk about tax & interest% but that would be really useful if you do do a video Xx
Yes I did have to apply for it with the lender! There was a fee to do so also. And I believe I could, I will have a think as tax as a whole is very complex as there are so many types but I could think about doing a basic video on what you pay as an employee or something like that! Xx
Such a useful video, thank you!!
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Thank you for this video. It’s a great help. It’s really hard to find lawyer for me, can you suggest any. Companies? Also some one said to me we have ho so all the surveys again. Is that true?
What happens if you just pay the interests and let the government take the 20% of the value of the house once you sell?
Great video thanks
Hi , it’s very helpful your video. Would you mind to tell my if you can repay your government loan in 2 years or it is just possible when it pass 10 years
Awesome video and I love you
Can I use my credit card money transfer facility also to pay off the remaining amount of help to buy. ?
Really helpful, thank you x
Thank you💗
Is it worth to pay in to isa to max out tax breaks, instead of paying down help to buy?
In the long run,equities outperform realestate?
The issue is that you would need to repay HTB within 5 years to avoid the interest, if investing you need to be aware there is risk with volatility so in the short term if you need to withdraw funds its typically not recommended to invest unless you can afford to withstand losses and hold the money for a medium to longer term
Love your channel
Thank you!!
does this mean essentially that paying it off by moving house is probably easiest xx
It sounds easy, but once you pay the loan back you've eaten into the equity needed to by a bigger house, so you'll need to borrow more to fund it.
Do you know anything about shared ownership properties? X
Ive done a video all about it if you search xxxx
HCA have made 18k profit off our house in 4 years …argh
Is HTB worth doing?
That is for you to decide based on your circumstances. Though it worked for me and got me on the ladder which I would not have managed without 😊
Does this apply to London help to buy 40%?
It does but the 20% I refer to will be 40% 😊 so I believe the 40% can only be repaid in x 2 20% chunks
Come on 💪👍