Applying for Halifax mortgage in-branch

georginag123

amnblog wrote: »

We will expect to hear in the morning Georgina.

You will want to kill the world and his wife by 6pm

I have gin at home, I should be OK...

reversehalo

This is interesting, we're currently dealing with an unreliable broker and also going for Halifax. I wonder if they are related!

We haven't even got an AIP yet, despite giving him all our info a week and a half ago. It's been like pulling teeth...

Hope you get the result you're after

kingstreet

Mortgage_Mark wrote: »

What he meant to tell you is that he can no longer access it. Halifax have restricted access to Help to Buy through brokers to solely first time buyers.

Just to explain this.

The HTB - Equity Loan scheme on newbuilds is now only available via brokers if their client is an FTB. HomeMovers (inc Halifax existing borrowers) must apply for an HTB - Equity Loan mortgage via a branch. A broker can still do it with Halifax as long as one applicant is a FTB.

However, last week, in a further development, Lloyds Banking Group limited HTB - EL mortgages to £150,000 as well for all borrowers.

Nationwide Building Society will not accept any HTB - EL application if the applicant is a HomeMover.

Halifax HTB - Mortgage Guarantee and NewBuy products which provide 95% on both newbuilds and second-hand homes are still available via brokers.

ML420cdi

kingstreet wrote: »

....However, last week, in a further development, Lloyds Banking Group limited HTB - EL mortgages to £150,000 as well for all borrowers......

With regard to that point do you think that policy will spread to other lenders or is it just a knee jerk light bulb moment from Lloyds who suddenly realized just how much they had lent under this scheme?...and that they were putting themselves as an institution into a risk situation.

kingstreet

I've no idea, but it's fair to say LBG had 50% of the market for HTB - EL and it does not wish to see that continue in the future.

I've no idea what other lenders might do, but Nationwide's change is possibly indicative of its position as number two for such business.

Without those two, you are left with a list of lenders with questionable ability to get to an offer within the 28 day deadline most builders have for exchange of contracts, another reason the top two have been so "popular."

Mortgage_Mark_2

kingstreet wrote: »

Just to explain this.

The HTB - Equity Loan scheme on newbuilds is now only available via brokers if their client is an FTB. HomeMovers (inc Halifax existing borrowers) must apply for an HTB - Equity Loan mortgage via a branch. A broker can still do it with Halifax as long as one applicant is a FTB.

However, last week, in a further development, Lloyds Banking Group limited HTB - EL mortgages to £150,000 as well for all borrowers.

Nationwide Building Society will not accept any HTB - EL application if the applicant is a HomeMover.

Halifax HTB - Mortgage Guarantee and NewBuy products which provide 95% on both newbuilds and second-hand homes are still available via brokers.

Not what we've been told but would be quite helpful.

kingstreet

Did one last week.

Checked with BDM first. It worked fine on Halifax Online. They appear to be using criteria definition;-

To qualify for a FTB product, one applicant must not have previously bought or owned a property (including inherited/bought for cash).

http://www.halifax-intermediaries.co.uk/criteria/mortgage/default.aspx?filter=F

TBH it was one we had to get through on Thursday afternoon after the £150k limit was introduced.

Mortgage_Mark_2

Ah, that's very handy. In his defence (well..) our BDM is an utter buffoon.

kingstreet

If you look in the dictionary under "perky" there would be a photo of ours.

She is actually very good though but the exact opposite of our last one who was not what you'd call Mr Dynamic.

Mortgage_Mark_2

kingstreet wrote: »

If you look in the dictionary under "perky" there would be a photo of ours.

She is actually very good though but the exact opposite of our last one who was not what you'd call Mr Dynamic.

Ours is one of those guys who, when he calls in, everyone in the office is involved in the conversation, he barely needs a phone. Loves to swagger round the office when he comes in too, telling us how great he is.