Help to buy accepted, chances of mortgage?

wrutless

Hi guys, my girlfriend and I have just been accepted on the help to buy scheme... is this a decent indicator that we should get the mortgage offer also? We are FTB and I am getting worried!

kingstreet

Which Help To Buy Scheme? Equity Loan?

If it is, approval for the equity loan is completely unrelated to the mortgage where there will be scrutiny of your credit history, income and expenditure and the documentation which supports that.

wrutless

Yes help to buy wales equity loan, I thought they do searches of credit history also?

kingstreet

No. They use the income and credit commitments set out on the property information form to establish affordability using an excel spreadsheet calculator.

Only lenders do credit searches and actually verify the data by scrutinising payslips and bank statements.

Teaandtoast0124

I emailed the help to buy scheme wales , and they said they use a system called credit safe to check your credit report?

kingstreet

A quick google says Credit Safe is a credit checking facility for businesses, not individuals. As I said elsewhere, the English HTB Agents do not carry out credit searches. As long as you can get the mortgage and you pass the qualification and affordability criteria, the loan is granted.