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Help to Buy - Should I be concerned?
Istanbul05_2
Posts: 181 Forumite
Hi,
Myself and my partner have recently applied to Help to Buy; however, we have received the following response:
"Unfortunately, the developer xxxx has no available funds for applications for their properties. They are required to update their forecast with the homes and communities agency. Once they receive notification of this, they are required to inform us via email and then resubmit any applications."
I passed this on to the developer and they replied with:
"Apparently we have to apply for the new allocation of funds every 6 months. Our new Application has been submitted and we have now got to wait for about 3 weeks for the funds to be allocated to us. I had not been made aware of this until just now, so please bare with us and leave your Help to buy application for a couple of weeks when we have got confirmation through. I will contact you as soon as we have heard from them. This will not delay anything build wise its just a matter of waiting for them to pass over the help to buy funds certificate once we have this you can then apply for help to buy/mortgage."
It all seems a bit strange?
Myself and my partner have recently applied to Help to Buy; however, we have received the following response:
"Unfortunately, the developer xxxx has no available funds for applications for their properties. They are required to update their forecast with the homes and communities agency. Once they receive notification of this, they are required to inform us via email and then resubmit any applications."
I passed this on to the developer and they replied with:
"Apparently we have to apply for the new allocation of funds every 6 months. Our new Application has been submitted and we have now got to wait for about 3 weeks for the funds to be allocated to us. I had not been made aware of this until just now, so please bare with us and leave your Help to buy application for a couple of weeks when we have got confirmation through. I will contact you as soon as we have heard from them. This will not delay anything build wise its just a matter of waiting for them to pass over the help to buy funds certificate once we have this you can then apply for help to buy/mortgage."
It all seems a bit strange?
0
Comments
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There are set processes for builders to follow.
Yours hasn't done so, so now you have to wait.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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