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Help to Buy - Equity Loan
Mortgage_Mark_2
Posts: 857 Forumite
Now no longer available with Halifax through brokers, be prepared for a lengthy process if going for the equity loan, with Halifax, as you need to go direct to them...
I am a mortgage adviser.
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.
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They will almost certainly have to revisit this and reverse this decision.
There is nowhere near enough capacity at branch level for the anticipated demand.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 -
They definitely don't want to lend on HTB anymore!0
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This is just a clarification of what we already knew.
It's restricted to FTBs via brokers, but for homemovers is branch-only.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: »This is just a clarification of what we already knew.
It's restricted to FTBs via brokers, but for homemovers is branch-only.
No... (For equity loan). http://www.ftadviser.com/2014/06/25/mortgages/halifax-cuts-brokers-out-of-help-to-buy-sales-Ot1XHKukqooaEr3X3sFrxN/article.html
EDIT: That story has changed in the last few minutes....!
We were forwarded a press release from Halifax this morning saying HtB1 was a no-go for brokers full stop. Odd...!I am a mortgage adviser.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.0 -
This was the gist of the email we got from LBG newbuild management 11/6/14;-
"With effect from 8pm this evening, Halifax Intermediaries will only accept FTB's for any shared equity OR shared ownership scheme (this includes Help to Buy Equity Loan)."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 -
Yes, that was the last update, I was referring to today's news (which seems to have strangely been veto'd - maybe Halifax are already performing a U-turn) that H2B1 was being pulled from brokers completely.I am a mortgage adviser.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.0
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More likely to be the trade press got the wrong end of the stick. The story is two weeks old, but resuscitated by Nationwide following suit yesterday.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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