Help To Buy Equity Loan Lenders?

ML420cdi

Is there a list on here of the lenders who market the Government equity loan mortgages?...tried Googling and couldn't find a definitive list?

amnblog

Google 'mortgage broker'

saving2704

amnblog wrote: »

Google 'mortgage broker'

Slightly rude....

If you go on the help to buy website itself there is a list on there

kingstreet

saving2704 wrote: »

Slightly rude....

If you go on the help to buy website itself there is a list on there

If you mean this one;-

http://www.helptobuy.org.uk/mortgage-guarantee/is-your-lender-in-the-scheme

they are the lenders for HTB - Mortgage Guarantee, not HTB - Equity Loan.

Consulting a whole market broker would really be a good idea for an HTB - EL case.

justcat

I believe there is a list of mortgage providers for the EL also.

I work for a company that processes the applications, and the manager mentioned that there was a list as there needs to be something specific in the contract where if you got repossessed, the government would get it's money back.

I'll see if I can find out the lenders.

justcat

Tell a lie, I just spoke to one of the women in the help to buy team and she said that there are mortgage providers that they recommend:


Halifax
Nationwide
RBS (via Natwest)
Barclays (via Woolwich)
Santander
Leeds
Lloyds Bank

These are just because they know them and they know how to process the application for the Equity Loan.

As it happens, you can use any mortgage provider as long as they can write the correct things into the contract.

I hope this helps.

kingstreet

To be honest, I'd be disappointed to hear employees of the HCA HTB Agent suggesting lenders to potential borrowers. That list is missing various niche lenders who are signed up to the scheme who may be able to assist types of borrower who may struggle with a "mainstream" lender.

Orbit, our local Agent (for the East & West Midlands) has a panel of approved independent mortgage brokers who have access to the HCA Affordability Calculator and I suspect if you approach many lenders direct, they would not know what you were talking about.

Lenders decide whether or not they wish to accept shared equity business, of which HTB - EL is but one example. When they sign-up to the scheme, they devise processes to deal with the second charge and factor the future payments on the equity loan into affordability.

An independent broker is by far the best source of advice/help on this, particularly now affordability is such a major issue and the need is there for the equity loan and ground rent and service charges to be included in that.

amnblog

Here is a list of anti-depressants that I found on a website


Ananfranil
Elavil
Norpramin
Pamelor


Should I pick one and start taking it, or should I consult a Doctor first?

justcat

Ok well, just passing on the information that I was told to help answer the OP's question...

kingstreet

justcat wrote: »

Ok well, just passing on the information that I was told to help answer the OP's question...

It wasn't particularly aimed at you, but more your "source" hence I didn't quote your post.

Just a general comment that certain HCA HTB Agents who shall remain nameless are absolutely bloody useless and can't do the job the Government pays them to do, such as issue a factually correct ATP within a reasonable timescale.

Why they feel the need to do mine is a mystery.

ML420cdi

amnblog wrote: »

Here is a list of anti-depressants that I found on a website


Ananfranil
Elavil
Norpramin
Pamelor


Should I pick one and start taking it, or should I consult a Doctor first?

Do you give free advice and recommendations?....beyond your comments on this forum that is....I'm a bit concerned about all this secret information that brokers seem to have access to that the general public don't.

I also don't think you can compare yourself to a doctor.