Page 1 of 1
Is this a Public funds?? please share your views..
Posted: Sun May 12, 2013 1:02 pm
by rajsingh04
Hello Everyone,
At the moment i am on Tier 1 which has been extended on 30th April 2013 until 2016. ILR due in april 2016.
I would like to buy a house and want to use the first time buyer scheme with 5% deposit and govt will provide 20% share on it as a loan which is tax free for 5 years and if it has not been paid in 5 year than interest will be charged.
Please see the below and share your views:
https://www.gov.uk/government/policies/ ... ime-buyers
Many thanks to all.
raj
Re: Is this a Public funds?? please share your views..
Posted: Sun May 12, 2013 3:59 pm
by Amber
rajsingh04 wrote:Hello Everyone,
At the moment i am on Tier 1 which has been extended on 30th April 2013 until 2016. ILR due in april 2016.
I would like to buy a house and want to use the first time buyer scheme with 5% deposit and govt will provide 20% share on it as a loan which is tax free for 5 years and if it has not been paid in 5 year than interest will be charged.
Please see the below and share your views:
https://www.gov.uk/government/policies/ ... ime-buyers
Many thanks to all.
raj
No as only Housing provided by housing associations and Homeless Assistance is classed as public funds for the purpose of the UKBA. However, will you be eligible even though you're not a permanent resident? I don't know the rules but usually mortgage providers require ILR, although, some don't.
Re: Is this a Public funds?? please share your views..
Posted: Sun May 12, 2013 5:27 pm
by Emrah
D4109125 wrote:rajsingh04 wrote:Hello Everyone,
At the moment i am on Tier 1 which has been extended on 30th April 2013 until 2016. ILR due in april 2016.
I would like to buy a house and want to use the first time buyer scheme with 5% deposit and govt will provide 20% share on it as a loan which is tax free for 5 years and if it has not been paid in 5 year than interest will be charged.
Please see the below and share your views:
https://www.gov.uk/government/policies/ ... ime-buyers
Many thanks to all.
raj
No as only Housing provided by housing associations and Homeless Assistance is classed as public funds for the purpose of the UKBA. However, will you be eligible even though you're not a permanent resident? I don't know the rules but usually mortgage providers require ILR, although, some don't.
They didnt ask ILR from me. I was on 2 years spouse visa when I got my mortgage.
Re: Is this a Public funds?? please share your views..
Posted: Sun May 12, 2013 6:07 pm
by Amber
Emrah wrote:D4109125 wrote:rajsingh04 wrote:Hello Everyone,
At the moment i am on Tier 1 which has been extended on 30th April 2013 until 2016. ILR due in april 2016.
I would like to buy a house and want to use the first time buyer scheme with 5% deposit and govt will provide 20% share on it as a loan which is tax free for 5 years and if it has not been paid in 5 year than interest will be charged.
Please see the below and share your views:
https://www.gov.uk/government/policies/ ... ime-buyers
Many thanks to all.
raj
No as only Housing provided by housing associations and Homeless Assistance is classed as public funds for the purpose of the UKBA. However, will you be eligible even though you're not a permanent resident? I don't know the rules but usually mortgage providers require ILR, although, some don't.
They didnt ask ILR from me. I was on 2 years spouse visa when I got my mortgage.
Yes, some providers do and some don't. Technically for some credit you have to be resident in the UK for 3+ years but I don't think that creditors check this too strictly.