advice please ftb help to buy

stassy23

Hi all and thank you for taking time to read and reply.

Me and my husband are ftb we recently seen a mortgage broker.
We told him everything he needed to know and said we found two houses one priced 170000 or 164950.

He managed to get a mortgage aip from Santander on experian they have done a full search as my score has gone down 15 and it says first mortgage.
We put an offer in for the 164950 which has been accepted.

My mortgage broker came back round got all the proof on income he needed and went to apply for the help to buy equity scheme.

How long does it take to get atp from help to buy? It will be 4 working days tom.
If this is agreed then a mortgage application will be submitted. How long does this all take and what is the process will they credit score again?

Hope this makes sense thank you.

panzer_pure

I've just gone through the process with you like for like, same bank, used broker etc..from meeting her and giving all paper work it took about 8 working days from DIP to mortgage offer...now my solicitor is taking care of everything, exchange to be on the 28th of this month

also, if you ask your broker for your customer id number you can log onto your santander mortgage tracker to see the up to date status of it, your default password is your house postcode.

and they only done 1 credit check on me too which was on application.

stassy23

Ah brilliant thank you for replying im so nervous about it all.
Did they do credit check when they did dip?

stassy23

Also congratulations

panzer_pure

dip was soft i believe

stassy23

Oh right my dip was definitely a hard search as my credit score has gone down by 15 and its not a quotation search.
Fingers crossed ill hear soon

kingstreet

The ATP from the HTB Agent is usually turned around in four working days, subject to the PIF & Reservation being fully completed/correct..

stassy23

Thank you kingstreet mortgage broker sent it off last weds

stassy23

Help to buy won't give us an atp as our income is to low and they don't accept tax credits or child ben on top.
Gutted back to the drawing board of trying to save difficult when we have high rent to pay

kingstreet

What?

Benefits such as tax credits are entered into the HTB affordability calculator. Was this done before the PIF & Res was submitted?

Did you use a specialist newbuild broker?

Before we do anything else for a client, we complete the HTB calculator so we know if we can actually do anything for them. After that we do lender calculators for the mortgage.

PM me your email address and I'll send you a copy of the spreadsheet the HCA provides as the HTB calculator.

stassy23

I had an email this morning saying they don't take into account tax credits or child benefit government rules!
Mortgage broker said it was a joke as Santander gave us an aip for mortgage that included child ben and tax credits.
Im so upset ill email you now kingstreet thank you