Help to buy equity loan, issue...

Potbellypig

SuboJvR wrote: »

For our new build, I believe our reservation fee will reduce the deposit by the same £500.
Probable mortgage arrangement fee up to or around £1000
Carpets and turf I would budget more based on my recent searching but depends on size of your house and stuff.
Removal costs if using.
Cost of overlapping rent if applicable.

Thanks. Last night (at 2am in the morning!) I thought about the removal costs and perhaps skip hire for all the junk we've got after 9 years of renting in the same place.

SuboJvR

Potbellypig wrote: »

Thanks. Last night (at 2am in the morning!) I thought about the removal costs and perhaps skip hire for all the junk we've got after 9 years of renting in the same place.

I am doing car loads to the big bins at my work :-)

We're still months away assuming everything happens so little and often is the way to go for us!

I feel your pain re: the late night thoughts and worries. I think it's getting slightly better, at least my stress-related IBS has calmed down! :T

Tweetybird24

kingstreet wrote: »

It's;-

agreement in principle
reservation
HTB paperwork submitted
HTB Authority To Proceed issued
mortgage application submitted.

As stated, you can't apply for HTB Equity Loan without first reserving a property as the property information form and reservation are the submission documents.

Can I jump on post please?

Tweetybird24

For the property info form, on the income section, can we insert annual gross plus commission if this has been consistent in the last 2/3 years? Instead of inserting this figure in the second box as I understand only a % of it will be taken into account?
Thanks

amnblog

Potbellypig wrote: »

No wonder no-one can afford these things!

Especially with the tax payer only putting in 20%

kingstreet

Tweetybird24 wrote: »

For the property info form, on the income section, can we insert annual gross plus commission if this has been consistent in the last 2/3 years? Instead of inserting this figure in the second box as I understand only a % of it will be taken into account?
Thanks

Basic income goes in the correct basic employment income box and variable earnings such as bonus/overtime/commission go in the other box.

These should match their entries on the HTB Affordability Calculator.

You cannot falsely declare commission as basic, even if you have a track record of earning it.

Tweetybird24

Main lender has issued Aip, taking into acc 100% of commission but HCA will not take 100%. Majority of income is made up of commission which although has been consistent, they will not accept so application has failed ☹️