Can you help to buy a second home?
Can you get help to buy on a second home?
No. You will not be able to get the help to buy on a second home but if you do buy a second home whilst having a help to buy equity loan on your first home you will be required to pay back the help to buy equity loan.
When usig the help to buy scheme you will also have to fill in a first time buyer declaration stating tht you are a first time buyer.
As the help to buy is not a substitute for a buy to let mortgage you can not rent out your help to buy property.
You cannot own any other property when you own a home with the help to buy equity loan.
If you make a fraudulent claim for the help to buy equity loan you may be subject to a criminal prosecution and will be required to pay back the help to buy equity loan in full if you were successful in getting the loan.
If you want to buy another property then you will need to first pay off your help to buy equity loan.
If you need financial advice and you live in the UK then you could contact the Money Advice service over the phone or via chat for impartial advice.
You can also contact the debt charity “Step Change” if you are in debt and need help.