Mortgage help - HTB

Donna_123

Hi,


I was wondering if anyone can help, I am starting to stress!


We put a reservation on a New Build property last weekend (13.08). After having to chase our mortgage advisor, we finally had our application to Nationwide put in (19.08) and received a DIP. Out HTB application was submitted 18.08 and we haven't heard anything back.


My only concern is the 28 day exchange with New Builds - are we likely to hit this? We are supposed to be moving in the end of next month!


Also, due to issues my pay slips don't match the salary on the application (a pay rise that wasn't dealt with) - I have sent a letter confirming my pay rise and you can see there is an additional deposit in the bank where they paid me the rise they forgot! (To be included on the next pay slip!)


Does this sound like a complicated application? I'm so worried about all of this going through! ANy help would be great


Thanks.

kingstreet

The HTB Agent has upto four working days to issue the ATP and nothing else sounds concerning.

Let is take its course. The builder isn't going to sell your plot to someone else because you miss your target by a couple of days if everything is done without delay on your part.

keeleycoop

I'm having a nightmare with my mortgage application on a new build too, and hit the 28 day exchange deadline (neither me nor my solicitors had any idea till the day before the deadline, talk about stressful!) and after frantic calls to the estate agent they said not to worry about it, it's just there to help encourage buyers to hurry up :O If you are worried maybe call the estate agent and ask them what they think?

Donna_123

Oh no - who are you applying with?


Yeah I hope that's all it is, we are in a bit of a rush as we won't have anywhere to live by 1st October if this doesn't all go through.


We have voiced our concerns to the Builders, and they are aware as they recommended the mortgage advisor. It's taken far too much chasing for my liking!


How far through the process are you? Do you know what's holding the mortgage up?

sophscottx

We're buying a new build and our deadline was supposed to be yesterday.

All we were asked was to provide evidence that the application is being processed and they were happy to proceed as it.

The only thing we have been warned of is that they can remove any incentives if you do not hit deadlines.

Ftba.d

Donna_123 wrote: »

Oh no - who are you applying with?


Yeah I hope that's all it is, we are in a bit of a rush as we won't have anywhere to live by 1st October if this doesn't all go through.


We have voiced our concerns to the Builders, and they are aware as they recommended the mortgage advisor. It's taken far too much chasing for my liking!


How far through the process are you? Do you know what's holding the mortgage up?

Yes, like the poster said earlier , HTB applications can take up to 4 working days. Saying that, I had a response at the end of the third working day ... If you do get the authority to proceed and your broker submits your full application that day , you could get an answer leaving you few days grace to exchange . Most lenders have a two week turn around for new builds, saying that there are some that take considerably longer!

As its a new build the valuation of the property will be quite straightforward. The only thing that may slow the process down would be the innacuracy on the payslip but you have the backstory and evidence on your statement of where the money went it . Just make sure your broker makes this clear when submitting your full app.

Good luck ! Got my fingers crossed for you .

Donna_123

I hope so, we have provided a signed letter from the employer stating the pay rise, it's just that the pay slips don't match, but the additional credit can be seen. I'm hoping this is enough evidence!


Thank you