I've been researching whether house builders are allowed to offer incentives if you're using the help to buy scheme so if they claim they can't as some other posters have stated i'll have an idea whether it's the case or not.
I've had a poke around on the intermediary sire for halifax and this is what i found....
" Builder cash incentives include but are not limited to deposit contributions, cash-backs, contribution to legal fees/stamp duty, mortgage subsidies.
Cash incentives for shared equity applications are acceptable provided the total value of the loan plus incentive together does not exceed 95% of the value of the equity share being purchased."
So does that mean offers to pay stamp duty or legal costs can only takes us up to 95% of our equity but additions like carpets, appliances, turf etc would not have to be included?
I've had a poke around on the intermediary sire for halifax and this is what i found....
" Builder cash incentives include but are not limited to deposit contributions, cash-backs, contribution to legal fees/stamp duty, mortgage subsidies.
Cash incentives for shared equity applications are acceptable provided the total value of the loan plus incentive together does not exceed 95% of the value of the equity share being purchased."
So does that mean offers to pay stamp duty or legal costs can only takes us up to 95% of our equity but additions like carpets, appliances, turf etc would not have to be included?