Help to Buy - paying back the 20%

My partner bought a house 4.5 years ago with a Help to Buy loan from the government. We are now selling it to move into a house that we're buying together.

The housing developer of our new house is buying our house in a part exchange and we received much more for our current house than it is worth. My question is - would the Help to Buy scheme require 20% paying back of what we sold it for to the housing company or what it is currently worth?

The wording says market value, you need to speak to the housing association asap as if it's market value they'll want to value the home it, they could say the price you get for the house is the market value so if that's the case then you need to be prepared for that.

We have one booked in for Wednesday. We are expecting it to be what we sold it for, would just be nice if it was market value for a little extra in our pocket.

We have one booked in for Wednesday. We are expecting it to be what we sold it for, would just be nice if it was market value for a little extra in our pocket.

Technically if you see to family at a discount they use market value so it should really work both ways but best to check.

I find it quite strange a property developer has paid well over market value for your old house.

I'd be asking 'what's the catch??'

I find it quite strange a property developer has paid well over market value for your old house.

 

I'd be asking 'what's the catch??'

Only a guess geared but I imagine it's an incentive to get them to buy their new house with said developer.

I find it quite strange a property developer has paid well over market value for your old house.

 

I'd be asking 'what's the catch??'

Only a guess geared but I imagine it's an incentive to get them to buy their new house with said developer.

Yes- this is very frequently found.

It's no different from when a new-car dealer tries to shift stock by inflating the trade-in value of your old car on p/x.

Yep I definitely think you're right, - the house we have bought is nearly completed and they had put lots of extras into it and wanted it sold rather than sitting there empty.