Halifax HTB - EL incentives question

ckelly81

Hi

Today we got an AIP with Halifax for the HTB - EL :j

(Nationwide referred it)

We have been told that Halifax will only allow up to 1% incentives. I know other lenders offer more. Is there anything else we can ask for that won't affect the mortgage offer?

I have no idea if we can ask for white goods, lawn, carpets ect. I know we can ask for 1% stamp duty paid, so we would *only* have to find £6000ish.

House price is £299950.

Any advice? Hoping to go down tomorrow to reserve the plot

Thanks in advance

Thrugelmir

Developers now notify the lender of the value of incentives. So the lenders valuer will take these into account when considering fair value. The lender can of course instruct the valuer as it wishes.

ckelly81

Thank you.

So could they add incentives at their discretion without notifying the lender? Or does it not work like that?!

kingstreet

The 1% limit is on cash incentives, such as legal fees, stamp duty etc.

Any non-cash incentives are ignored.

The "CML" form given by builder to surveyor lists incentives of both types, so there's no "gaming" the system.

ckelly81

Thanks Kingstreet!