HTB Equity Loan application

samsam89

Nope. All in the correct boxes.

We get child benefit but that's in the right box and doesn't count towards income. Plus I've put our annual bonuses in the right box and it takes 50% which still works out fine.

Perhaps the habito guy was doing something wrong

samsam89

Can any brokers on here confirm if this looks accurate? The details are all input correctly.

https://ibb.co/gVErQ6

kingstreet

Looks fine to me.

We email a copy of the calculator to the HTB Agent with the PIF & Res to demonstrate we've already calculated affordability.

samsam89

Thanks for taking the time to look

Habito guy has come back and reckons it's "likely" we would need to clear car before applying. I know some lenders apply this rule but as per my original question, I was under the assumption that they will allow an application with the car finance listed as long as we agree to pay it off on or before completion (as amnblog confirmed further up).

Anyone had any experience dealing with this sort of situation and is this right? Not sure we'll be able to clear it before we apply for the HTB.

YHM

Depends on the lender.

Some will provide an offer document with conditions on (ie repay the loan before completion), some will want to see it gone before application.

samsam89

YHM wrote: »

Depends on the lender.

Some will provide an offer document with conditions on (ie repay the loan before completion), some will want to see it gone before application.

Yes, this is what I imagined would happen. Are we able to inform the HTB agent that we intend to repay the car before completion?

The habito guy has suggested we are high risk as using HTB. In my eyes we just need a lender who will allow applications on the basis of clearing the car on or before completion.

So to double check, I can apply for HTB EL and inform the HTB Agent of our intention to repay car upon completion?

Also just out of pure interest, does the agent run a credit check as well as the mortgage provider?

kingstreet

samsam89 wrote: »

Yes, this is what I imagined would happen. Are we able to inform the HTB agent that we intend to repay the car before completion?

The habito guy has suggested we are high risk as using HTB. In my eyes we just need a lender who will allow applications on the basis of clearing the car on or before completion.

So to double check, I can apply for HTB EL and inform the HTB Agent of our intention to repay car upon completion?

Also just out of pure interest, does the agent run a credit check as well as the mortgage provider?

If it will be repaid on or before completion, leave it off the HTB AC and PIF.

No. No credit checks.