Mortgage for new build

RIPironman

I've used a broker to help me get a mortgage for a new build (using help to buy). He has done what he called a 'soft' credit check on us which went through ok. Our details passed the affordability check.

I've checked my Experian report and have no previous adverse credit.

I'm just worried that, having to put down £500 holding fee for the property, my application gets declined. I've no reason to think it will, and my broker says as long as I have declared everything it shouldnt be a problem.

I just wonder if anyone can advise on a reason it might be declined? I know I need a crystal ball!!

Thrugelmir

If you've declared everything to the broker. Then there's no reason why you don't meet the lenders criteria.

Anzhelka

First time we have applied for a mortgage last year - we didn't mention all our outstanding loans and also had some unplanned overdrafts in our bank account and we get declined. This time we've been absolutely honest and our financial situation has improved and we've got accepted.
However our seller would return £500 fee if application would be declined by the lender. They don't refund only if we opt out.

maff39

If you're using HTB I believe your £500 reservation fee is protected and will be refunded if you get a mortgage decline.