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Buying a new build
Disneycp
Posts: 1 Newbie
There are 2nd phase of houses being built towards the end of this year near where i live. I want to be prepared so i can reserve a house if i like one. I want to be in a strong position to buy a house.
I have a house to sell which i know would need to be on the market, i would be using HTB and getting a new mortgage.
What are the steps i need to take to be ready?
I have a house to sell which i know would need to be on the market, i would be using HTB and getting a new mortgage.
What are the steps i need to take to be ready?
0
Comments
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You need to have a sale agreed on yours and an agreement in principle for a new mortgage with affordability confirmed on the HTB calculator as well.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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The house you are saying will need to be under offer before they will allow you to reserve, so you will need a buyer.
They may want you to pre-qualify with a mortgage advisor to check your affordability.
Once you have done both things, you will be able to reserve.
You'll also want an AIP. You could also put the numbers through the HCA calculator to make sure you will qualify.
Who is the builder?0 -
Oh, here's the calculator - use it as a guide. As long as nothing turns red, you should be okay.
http://www.plumlife.co.uk/Finding%20a%20Home/how_do_I_buy/Documents/help_to_buy_equity_loan_affordability_calculator_apr_2013_v3.xls0
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