help to buy (offers on a property)

sloopjohnb3

hello.

I want to buy a new home using the help to buy scheme. I have found the property and put an offer in.
I asked for 1K off asking price and 5K options voucher which I thought was reasonable. I think I have just about ground the sales agents down to go with this but there latest excuse is that the mortgage company (Halifax) will not allow them to give me this much off if im using the help to buy. I cant understand why this would be as surely its in the mortgage companys interest that I get the best deal possible. Any help, advise or experience greatly appreciated.

ethank

You cannot have more than 5% incentives on a help to buy equity loan.

The reason is that they believe anything over this means the property is overvalued.

sloopjohnb3

Thanks for the reply. Was starting to think no one had any advice.
The house price was 168995 and I'm asking for 6k incentives so if
What you say is correct I should get this. I have made it clear to the sales team that is my final offer an that I'm fed up of there lies and poor advice so ball is with them

dgtazzman

In that case, it seems they are lying to try and get you to drop the incentives. The 5k options voucher won't be counted by most lenders/homebuy agents anyway towards the 5% threshold as it will be spent on material upgrades, which aren't counted as cash back incentives by most.