Help to Buy Mortgages

**Lance** · 12 January 2017, 15:24

Originally posted by peterc2609 View Post

Looking more at the Equity Loan side of things...

Anyone here managed to get one of them as a contractor?

I would have thought it unlikely a contractor would qualify. Either by earning too much, or earning too little deliberately (either by being part time, or to avoid tax).

EDIT: Household income of less than £80k apparently so maybe you can qualify. Although you'd have to rent the part you don;t own so I don;t see there's any benefit especially as you'll not get the capital growth on the other bit. I cannot imagine many people cannot afford to buy the whole home but can afford to rent half of it.

**VillageContractor** · 12 January 2017, 15:37

Originally posted by peterc2609 View Post

Hi All,

Looking more at the Equity Loan side of things...

Anyone here managed to get one of them as a contractor?

Peter

I thought the scheme stopped in December?

**northernladuk** · 12 January 2017, 15:47

Originally posted by VillageContractor View Post

I thought the scheme stopped in December?

There is that which is pretty fundamental but...

Plenty of resources about H2B for contractors out there.. Like this.

https://www.freelancerfinancials.uk....s/help-to-buy/

**peterc2609** · 12 January 2017, 16:01

Originally posted by Lance View Post

I would have thought it unlikely a contractor would qualify. Either by earning too much, or earning too little deliberately (either by being part time, or to avoid tax).

EDIT: Household income of less than £80k apparently so maybe you can qualify. Although you'd have to rent the part you don;t own so I don;t see there's any benefit especially as you'll not get the capital growth on the other bit. I cannot imagine many people cannot afford to buy the whole home but can afford to rent half of it.

I think you're thinking about something different?!

https://www.helptobuy.gov.uk/equity-loan/equity-loans/

**peterc2609** · 12 January 2017, 16:05

Originally posted by VillageContractor View Post

I thought the scheme stopped in December?

Still very much alive.... from what I've been told.

**Lance** · 12 January 2017, 16:15

Originally posted by peterc2609 View Post

I think you're thinking about something different?!

https://www.helptobuy.gov.uk/equity-loan/equity-loans/

I though that's the scheme I was thinking of. It has closed now.

I missed that page that said you don't pay the loan for 5 years. I was looking at this page https://www.ownyourhome.gov.uk/scheme/shared-ownership/

Maybe there's more than one scheme. Wouldn't surprise me the way the govt are working at the moment.

**peterc2609** · 12 January 2017, 16:21

Just spoke to Freelancer Financials... still available. Waiting on some info, and my own house to be valued!

Help to Buy Mortgages