New Bellway Build - New Mortgage Helpline?

laurieballard999

Hi

We have just paid £500 to reserve an Off Plan Plot with Bellway and they referred us to their 'New Mortgage Helpline' people. We got an AIP from Halifax through them but due to my partner going away for 2 weeks, we cannot complete a full mortgage application before then as they can't get us an advisor out in time!

Anyway, they are charging £245 for the advisor which seems odd as I am sure they get commission anyway.

I would much prefer to go with my bank (lloyds) as I have been with them 15 years, have a great account history and they will offer me 0.2% off the online rates which seem slightly better than Halifax anyway.

As I have an AIP from Halifax via New Build people, am I better just sticking with these? We are FTB with only a 5% deposit so will be going the Mortgage Guarantee Help to Buy Scheme.

I don't want to apply with Lloyds, get refused for some reason and then have Halifax so no to the full application as we have applied with Lloyds!
The sales person seems to think they use Halifax as they are more 'lenient'.

Thanks

kingstreet

Can the branches offer HTB - MG on newbuilds?

AFAIK it's selected builders/brokers only for Halifax.

laurieballard999

kingstreet wrote: »

Can the branches offer HTB - MG on newbuilds?

AFAIK it's selected builders/brokers only for Halifax.

The Lloyds website says they offer Mortgages for Help to Buy Mortgage Guarantee

kingstreet

Yes.

Does it specifically mention HTB - Mortgage Guarantee for newbuilds?

Newbuild has specific products and criteria and you should not assume a general product can be used in a newbuild setting.

LBG usual maximum LTV for a newbuild is 80% and it usually only offers above that to specific builders/brokers on its newbuild panel.

As an example, HTB154, HTB155, HTB158 and HTB159 the Halifax HTB - MG products specifically say not for newbuild;-

http://www.halifax-intermediaries.co.uk/products/mortgages/details/popup/default.aspx?code=HTB154

http://www.halifax-intermediaries.co.uk/products/mortgages/details/popup/default.aspx?code=HTB158

Builders/newbuild brokers have specific product codes for those available on newbuild HTB156 & HTB157.

wrkactjob

You are under no obligation to use the New Mortgage Helpline.

If you have a straightforward case ie no credit or employment issues etc do some research on line and apply direct.

We are also buying with Bellway and are in the process of using Skipton who to this point seem very good.

http://www.halifax.co.uk/mortgages/help-and-advice/schemes/

WillyWonga

We are going through Bellway and had to go through their "preferred broker" Meridian Mortgages for the initial check - like the ones estate agents do. They charge £99 for their mortgage service.

wrkactjob

WillyWonga wrote: »

We are going through Bellway and had to go through their "preferred broker" Meridian Mortgages for the initial check - like the ones estate agents do. They charge £99 for their mortgage service.

You were conned.

ethank

I would have refused to pay. They are on commission.

GlamGirlie

laurieballard999 wrote: »

Hi

We have just paid £500 to reserve an Off Plan Plot with Bellway and they referred us to their 'New Mortgage Helpline' people. We got an AIP from Halifax through them but due to my partner going away for 2 weeks, we cannot complete a full mortgage application before then as they can't get us an advisor out in time!

Anyway, they are charging £245 for the advisor which seems odd as I am sure they get commission anyway.

I would much prefer to go with my bank (lloyds) as I have been with them 15 years, have a great account history and they will offer me 0.2% off the online rates which seem slightly better than Halifax anyway.

As I have an AIP from Halifax via New Build people, am I better just sticking with these? We are FTB with only a 5% deposit so will be going the Mortgage Guarantee Help to Buy Scheme.

I don't want to apply with Lloyds, get refused for some reason and then have Halifax so no to the full application as we have applied with Lloyds!
The sales person seems to think they use Halifax as they are more 'lenient'.

Thanks

We were told we had to use New Mrtg Helpline. To be honest thught he was rubbish, very slow to process things and lost statements we'd given him etc.

Halifax are more lenient though!

GlamGirlie

ethank wrote: »

I would have refused to pay. They are on commission.

Bellway don't give you an option, you want the house, you pay the fee.

GlamGirlie

laurieballard999 wrote: »

The Lloyds website says they offer Mortgages for Help to Buy Mortgage Guarantee

The mortgage guarantee H2B scheme is specifically NOT for new builds.