Help to Buy - Don't pay more interest than you need to!

5 key takeaways from my video on Help to Buy Equity Loan interest payments and inflation rate rises.

In the full length video, you will learn how interest payments and interest rate rises are calculated, and how you can reduce the amount of interest you pay on your loan. We cover both the old scheme, which ended in 2021, and the new model, which started in 2021.
The Help to Buy Equity Loan scheme is a Government initiative which offers first-time buyers equity loans of up to 40% of a property’s value in London (and 20% in the rest of England) to buy new build homes
For the first 5 years after you buy your home, there is no interest to pay on the loan. From year 6, you start to pay interest on the loan, but those payments don’t go towards paying off the loan.

CONTACT DETAILS
Email: lemuelstudios@gmail.com
Instagram: @SelfInvested_UK
Twitter: @InvestedSelf

LINKS MENTIONED/USED
Help to Buy Equity Loan playlist- https://youtube.com/playlist?list=PLUG_SDz9gLQJIBs_0uHERF90GRFLamKv_

Help to Buy Equity Loan Buyers' Guide - https://www.gov.uk/government/publications/help-to-buy-equity-loan-buyers-guide/homebuyers-guide-to-help-to-buy-equity-loan-2021-to-2023-accessible-version#understanding-your-interest-payments
Interest rate Calendar Lottery - https://www.moneysavingexpert.com/news/2019/05/help-to-buy-equity-loan--save-p100s-or-p1-000s-in-interest-by-ch/
Inflation rates - https://www.ons.gov.uk/economy/inflationandpriceindices
Mortgage rates - https://www.statista.com/statistics/386301/uk-average-mortgage-interest-rates/

OTHER PLAYLISTS
My Shared Ownership Experience (series) - https://youtube.com/playlist?list=PLUG_SDz9gLQKqInQrRbCC21S4pZpp4JrN
Shared Ownership - https://www.youtube.com/playlist?list=PLUG_SDz9gLQI3lKk_GIxi9Kgn_GeCaDDp
Help to Buy Equity Loan - https://youtube.com/playlist?list=PLUG_SDz9gLQJIBs_0uHERF90GRFLamKv_

CHAPTERS
00:00 Intro
00:34 Summary of the Help to Buy scheme
01:35 How interest payments are calculated
02:19 Interest rate & inflation: new vs old scheme
03:01 RPI vs CPIH: what's the difference?
05:38 How the interest rate rise is calculated
08:23 Does the Help to Buy interest rate rise quickly?
09:32 Impact of completion date on interest rate
13:43 Takeaways
16:16 Outro

ABOUT ME
I'm Lemuel. I'm not a financial advisor. I'm not an expert. I'm just a regular guy that enjoys talking about how we can do better with money.
If you want to learn more about how you can do better with money, then subscribe to the channel and hit the notification bell so you get an alert whenever I upload a video.

DISCLAIMER
This video is not meant to address the specific circumstances of any particular individual. It is created for educational purposes only. You should not rely upon it as legal, financial or professional advice, or a substitute for it. I do not accept any liability whatsoever for errors, omissions or misstatements contained therein. You should consult a suitably qualified professional if you require specific advice or information.

Видео Help to Buy - Don't pay more interest than you need to! канала Self Invested