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Scottish help to buy & tricky house builder
LittleFawn
Posts: 22 Forumite
Hi,
I have put down a reservation on a flat in Scotland. I am moving from England to Scotland and learnt that the help to buy is a bit different.
AIP sorted and solicitor sorted. The house builder keeps nagging me to go through their mortgage broker but I already have an agreement and chosen bank.
Today they told me that my AIP (£130) is higher than the purchase price of the flat (£145) which obviously it isn’t. And if the AIP is higher I will get rejected for the help to buy scheme.
I thought this was hard sales tactic for the mortgage broker.
However when filling out my help to buy application it asks for the deposit, price of the flat and loan needed.
Which is roughly: 7300, 116k, 21k
Which would mean that the AIP is higher than the (85%) purchase price.
Now I’m scared I will get rejected.
tldr:
Does the help to buy scheme count your AIP higher than the actual purchase price of the flat or the 85% purchase price?
I have put down a reservation on a flat in Scotland. I am moving from England to Scotland and learnt that the help to buy is a bit different.
AIP sorted and solicitor sorted. The house builder keeps nagging me to go through their mortgage broker but I already have an agreement and chosen bank.
Today they told me that my AIP (£130) is higher than the purchase price of the flat (£145) which obviously it isn’t. And if the AIP is higher I will get rejected for the help to buy scheme.
I thought this was hard sales tactic for the mortgage broker.
However when filling out my help to buy application it asks for the deposit, price of the flat and loan needed.
Which is roughly: 7300, 116k, 21k
Which would mean that the AIP is higher than the (85%) purchase price.
Now I’m scared I will get rejected.
tldr:
Does the help to buy scheme count your AIP higher than the actual purchase price of the flat or the 85% purchase price?
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