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    • Applejack85
    • By Applejack85 13th Jul 17, 9:37 AM
    • 2Posts
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    Applejack85
    Help to buy ATP query
    • #1
    • 13th Jul 17, 9:37 AM
    Help to buy ATP query 13th Jul 17 at 9:37 AM
    Hi

    My husband and I are looking to buy a new build property using the help to buy scheme.

    We have paid the reservation fee and have been told that our broker will be completing the property information form and getting the authority to proceed, and it's my understanding that we need this BEFORE applying for the mortgage.

    However, our broker seems to have gone straight to the mortgage application stage and has already done a hard credit search through Barclays to get an AIP which I'm not happy about.

    We have an appointment on Saturday to go through the full mortgage application but we still don't have the ATP, I have said to my husband I'm not happy with this (he's been the one speaking to them on the phone) and he also seems unsure, but that we should also "play the game" as we want the broker on our side and doesn't want to rock the boat.

    Has any one else had experience of using help to buy and what process did you go through and should I be putting my foot down about getting the ATP first before having more hard searches on my credit file.

    Our broker is mortgages first.
Page 1
    • kingstreet
    • By kingstreet 13th Jul 17, 9:56 AM
    • 31,553 Posts
    • 16,851 Thanks
    kingstreet
    • #2
    • 13th Jul 17, 9:56 AM
    • #2
    • 13th Jul 17, 9:56 AM
    We sometimes do the PIF/Res submission to the HTB Agent first, sometimes we do the mortgage first.

    The HTB criteria is very straightforward and as long as you pass the HTB Affordability calculator, you get your loan as long as you can afford 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.
    • SeagullFTB
    • By SeagullFTB 13th Jul 17, 10:54 AM
    • 36 Posts
    • 17 Thanks
    SeagullFTB
    • #3
    • 13th Jul 17, 10:54 AM
    • #3
    • 13th Jul 17, 10:54 AM
    We've just been through the mortgage application and Help to Buy process.


    Our broker advised us that some banks wouldn't consider an application without the authority to proceed in place first, which could take a couple of weeks as the Help to Buy agents are notoriously picky about the form being 100% correct.


    We decided to go ahead and apply for a mortgage with a bank that'd start the process before receiving the authority to proceed. We received a full mortgage offer from Halifax after about ten days and received the authority to proceed a few days later.


    The authority to proceed is actually quite straight forward. You either meet the criteria or you don't. You can find out by using an online calculator. It just takes a couple of attempts to get the property information form absolutely perfect so that they're happy with it.
    • kingstreet
    • By kingstreet 13th Jul 17, 11:16 AM
    • 31,553 Posts
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    kingstreet
    • #4
    • 13th Jul 17, 11:16 AM
    • #4
    • 13th Jul 17, 11:16 AM
    It just takes a couple of attempts to get the property information form absolutely perfect so that they're happy with it.
    Originally posted by SeagullFTB
    Unless you do about 10 - 15 of the things a month, then you check every detail over and over as getting one knocked back is a real PITA.
    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.
    • Pigmyhippo
    • By Pigmyhippo 13th Jul 17, 12:15 PM
    • 36 Posts
    • 39 Thanks
    Pigmyhippo
    • #5
    • 13th Jul 17, 12:15 PM
    • #5
    • 13th Jul 17, 12:15 PM
    Our broker did full application and help to buy forms at the same time. This was with NatWest and all went through ok
    • breadwm
    • By breadwm 13th Jul 17, 1:40 PM
    • 7 Posts
    • 2 Thanks
    breadwm
    • #6
    • 13th Jul 17, 1:40 PM
    • #6
    • 13th Jul 17, 1:40 PM
    I reserved my plot then did the HTB application before the mortgage application.

    It was just a case of ensuring I could get my reservation fee back if I didn't qualify for the HTB

    Got ATP now patiently waiting for a decision on my mortgage application with Santander.

    • SuboJvR
    • By SuboJvR 13th Jul 17, 1:43 PM
    • 214 Posts
    • 152 Thanks
    SuboJvR
    • #7
    • 13th Jul 17, 1:43 PM
    • #7
    • 13th Jul 17, 1:43 PM
    Our broker also did the mortgage application and help to buy forms at the same time. We had a small issue with our help to buy application form; as kingstreet says they are very fussy. This led to a three day delay in getting the ATP processed.

    Things happened in sync though; Santander were waiting on the ATP document and as soon as we had that we sent it along, and heard back about our mortgage offer a few working days later.

    I wouldn't be alarmed. Brokers do this day in day out and they know the timelines for different lenders and what expectations they have.
    • Applejack85
    • By Applejack85 13th Jul 17, 2:14 PM
    • 2 Posts
    • 0 Thanks
    Applejack85
    • #8
    • 13th Jul 17, 2:14 PM
    • #8
    • 13th Jul 17, 2:14 PM
    It's good to hear that they do do both at the same time, we have filled out the excel sheet ourselves and it looked ok so fingers crossed!
    • kingstreet
    • By kingstreet 13th Jul 17, 2:48 PM
    • 31,553 Posts
    • 16,851 Thanks
    kingstreet
    • #9
    • 13th Jul 17, 2:48 PM
    • #9
    • 13th Jul 17, 2:48 PM
    AFAIK only Santander asks for a copy of the ATP upfront now.

    They are also the most pedantic about cash incentives as well. The ATP and CML Form have to match exactly.
    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.
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