Copy article

Help to Buy owners who've lost money

Journalist: George Nixon, The Times and The Sunday Times

ended 12. February 2023

Hi there,

I'm working on an investigation for The Times about Help to Buy, and the first-time buyers who've bought properties that have subsequently fallen in value by the time they came to remortgage or sell. 

Do you know anyone who this has happened to, who'd be happy to speak to a journalist about it, have you seen this in your own experience?

Thanks, all the best,

George

2 responses from the Newspage community

Copy all

Copy

Editor
Emma Jones
Managing Director at Whenthebanksaysno.co.uk
In the last 2 years, anyone looking to remortgage to repay H2B would of being hit with a higher repayment due to the increase in property values. We would believe that Q3 2023 onwards would be a good time to consider your options again as we are recovering from the boom during the pandemic.
Copy

Austyn Johnson
Founder at Mortgages For Actors
When advising on these mortgages, I made quite a big point about the fact that they may lose money over the term, and I have lost business to it. I would rather lose business in the short term and have my clients looked after in the long term. But the ones I have done, are happy with the risks and really, are happy to stay in the property for as long as is needed. I worry about the swarms of new homes brokers who did this pretty much every day. They must be worried about this coming back to them. I hope they were properly advising and not just rushing a sale...