Help to buy scheme and contracting

Steedie

Steedie

Steedie

Man of Honour
Joined
29 Jun 2004
Posts
21,638
Location
Oxfordshire
Hey guys,

Looking to sign up to the help to buy scheme for Oxfordshire and surrounding areas as I've finally got sick of being charged ridiculous rent prices where I am, currently paying £1000 for a 2 bed house which granted isn't as much as people in London, is still pretty ridiculous.

One question I had is it mentions that you can only apply if your household earns less than £60,000. I'm contracting and earn above this, but obviously due to the way contracting works I only technically earn minimum wage (boo hiss) and a basic salary which is far less. Would I only list my salary? Or do I have to declare my salary as the amount including dividends/expenses etc? As obviously if I do, I may as well not bother with this form :p

I'm expecting some people to say "if you're earning so much why do you need the help to buy scheme?", which is a fair question. But living in Oxfordshire means I'm looking at £350k plus for the house I'd need for my family, so getting a deposit is still tough as a first time buyer

Thanks in advance for any help/input :)
 
Because my girlfriend isn't working at the moment and staying at home with our son so I'm paying the rent/bills by myself at the moment. So yes I'm saving a lot each month towards a deposit, but I'd like a 20-30% deposit if I'm buying outside of a scheme to get a good mortgage, which will take a couple of years yet

So using a help to buy scheme to get on the ladder seems like a good idea :)

I wasn't trying to fiddle the system, just when I declare my salary I technically have to put my salary before dividends according to my accountant, but I didn't want to do that then get in trouble later :(

Fox - Yes I could move out of the area, but my girlfriends family are all here, my family are all here. All my friends are here and I've grown up here so I'd like to stay
 
I agree, but...oh okay

Damnit, David Cameron needs to take more money from the damn poor already so I can get a house today and not tomorrow!








Not serious
 
That's what I'm interested in, the equity loan, I thought that the cap applied to that too :) glad it doesn't

I'll go back to my tax dodging now, thanks folks
 
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