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Help to buy application needs to be approved?
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FTBSOS
Posts: 150 Forumite
So I am planning on buying a new build house under the gov's Help To Buy Scheme. I've phoned up the broker today and they said:
Can someone please elaborate on what does the broker mean by this? Has the HTB application been sent off to the government department that deals with HTB applications for approval?
he help to buy application needs to be approved, once approved, they will let me know and then they will key the application to the lender. The HTB application is treated as a case by case, basis.
Can someone please elaborate on what does the broker mean by this? Has the HTB application been sent off to the government department that deals with HTB applications for approval?
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Comments
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We can't tell you that from what you've said there.
Have you reserved a property? Did the builder go through the Property Information For (PIF)??
Has somebody (builder or broker) sent the Reservation form and PIF to the local HCA HomeBuy Agent?
If yes, you are now waiting for your Authority To Proceed from the agent, before you apply for the mortgage.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
kingstreet wrote: »We can't tell you that from what you've said there.
Have you reserved a property? Did the builder go through the Property Information For (PIF)??
Has somebody (builder or broker) sent the Reservation form and PIF to the local HCA HomeBuy Agent?
If yes, you are now waiting for your Authority To Proceed from the agent, before you apply for the mortgage.
I have reserved the property, paid the reservation fee, recieved the forms, was told house would be off the market.
I do not know if the builder have sent off the reservation form and the PIF to the local homebuy agent which I believe is Orbit. However the property was reserved just under 3 weeks ago so I don't know if the builders have sent off anything when I reserved the property.
Regarding broker sending off the information, I believe they already have, the friday just gone as they said they are waiting for a decision. My guess is the builder hasn't sent off the forms because I wouldn't have to waiting for the approval.0 -
Thank you for your completed Property Information Form and Reservation Form. I confirm that we have instructed your solicitors to commence their conveyancing process.
Please find attached your copy of the ‘Authority to Proceed’ letter confirming the agreed terms of your purchase and a copy of the Help to Buy Buyers Guide for your information and the Personal Worked Example for this case which your solicitor can discuss in detail with you.
Please do not hesitate to contact this department should you have any further questions.
Many thanks,
Orbit
What's the next stage now? Submit full application with the lender?0 -
Why not ask your broker?I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Yes. That's correct.Please find attached your copy of the ‘Authority to Proceed’ letter
What's the next stage now? Submit full application with the lender?I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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