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Help to buy question with SS

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  • Help to buy question with SS

    Hi guys,

    Just a quick question please, I know that it has been said if you apply for SS then your rights should be the same as a British citizen. So with Settled Status can we get Help to Buy scheme if we're planning to buy a house?

    Thanks in advance

  • #2
    Originally posted by Bakri View Post
    Hi guys,

    Just a quick question please, I know that it has been said if you apply for SS then your rights should be the same as a British citizen. So with Settled Status can we get Help to Buy scheme if we're planning to buy a house?

    Thanks in advance
    Yes, as can be seen here: Own Your Home | Help to Buy: ISA - Own Your Home

    To qualify for a Help to Buy: ISA you must:
    • be 16 or over
    • have a valid National Insurance number
    • be a UK resident
    • be a first time buyer, and not own a property anywhere in the world
    • not have another active cash ISA in the same tax year: If you have opened a cash ISA this tax year, you can open a Help to Buy: ISA but will have to take additional steps. See the FAQ for more detail.
    Although the above refers to the ISA element of the scheme, it follows that this would also apply to the scheme itself.

    The one thing to note is that Help to Buy is only for new builds, which are not everyone's first choice of property to buy and can often be overpriced when compared with older properties in the same area, so one thing to bear in mind.

    I am the Site Manager and Webmaster, please refer to our Admin Team, Roles and Responsibilities. If you think we have helped in any way, please support us so we can keep helping others secure their status, it is now more important than ever now EEA nationals are subject to the same immigration requirements as non EEA nationals and require proof of valid status in the UK.

    Comment


    • #3
      Originally posted by Site Admin View Post

      Yes, as can be seen here: Own Your Home | Help to Buy: ISA - Own Your Home



      Although the above refers to the ISA element of the scheme, it follows that this would also apply to the scheme itself.

      The one thing to note is that Help to Buy is only for new builds, which are not everyone's first choice of property to buy and can often be overpriced when compared with older properties in the same area, so one thing to bear in mind.
      Okay so I have to be a first time buyer and the house must be a new building

      One more question and I do apologise in advance for this. will the same​​ rights apply for the Help to Buy equity loan or is it just ISA?

      Comment


      • #4
        Originally posted by Bakri View Post

        Okay so I have to be a first time buyer and the house must be a new building

        One more question and I do apologise in advance for this. will the same​​ rights apply for the Help to Buy equity loan or is it just ISA?
        Well, the ISA is part of the Help to Buy scheme, however, the equity loan will obviously be subject to further requirements such as age (18 or over as opposed to 16), as well as the usual income and financial requirements, such as having a solid credit record and earning enough to satisfy their requirements. None of this has anything to do with being a British citizen though, it has never been a requirement to be British to get a mortgage, and settled status is ILR, which means not having any time limits nor restrictions in the UK.

        For more info about the equity loan, see: Help to buy, shared ownership & other schemes - MSE

        I am the Site Manager and Webmaster, please refer to our Admin Team, Roles and Responsibilities. If you think we have helped in any way, please support us so we can keep helping others secure their status, it is now more important than ever now EEA nationals are subject to the same immigration requirements as non EEA nationals and require proof of valid status in the UK.

        Comment


        • #5
          Originally posted by Site Admin View Post

          Well, the ISA is part of the Help to Buy scheme, however, the equity loan will obviously be subject to further requirements such as age (18 or over as opposed to 16), as well as the usual income and financial requirements, such as having a solid credit record and earning enough to satisfy their requirements. None of this has anything to do with being a British citizen though, it has never been a requirement to be British to get a mortgage, and settled status is ILR, which means not having any time limits nor restrictions in the UK.

          For more info about the equity loan, see: Help to buy, shared ownership & other schemes - MSE
          Thank you so much for such a great answer

          Comment

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