Exchange and completion 7 months gap

Tomg84 · 21 October 2018 at 11:48AM

I would have thought another credit check as minimum but if you've not had any changes (i.e. salary decrease, taking out a loan/credit card) then there shouldn't be a problem as you've already got one mortgage and getting another shouldn't be an impossible task unless the world stops. The brokers on here should know in more detail what lenders need to see at this stage.

itani · 21 October 2018 at 11:59AM

Tomg84 wrote: »

I would have thought another credit check as minimum but if you've not had any changes (i.e. salary decrease, taking out a loan/credit card) then there shouldn't be a problem as you've already got one mortgage and getting another shouldn't be an impossible task unless the world stops. The brokers on here should know in more detail what lenders need to see at this stage.

I'm a first time buyer never had a mortgage.

itani · 22 October 2018 at 5:43PM

kingstreet wrote: »

The current HTB products have a drawdown deadline of 30 June 2019. For example, FAW986 fixed at 2.17% until 31/12/2023 with £1,000 cashback on completion.

I didn't say a reinspection after six months, I said a refresh. No reinspection is required and no charge is made.

We do approx thirty HTB newbuild applications a month, many with Halifax.

Hey Kings our solicitors just came back and told us this

You are purchasing this property under the Help to Buy Scheme and the contract that is involved is conditional upon the Help to Buy funding and your main loan funding being available at the time of completion.

If your circumstances change for the worst and providing the circumstance is inevitable and out of your control and the funding withdrawn, then under the terms of the contract you will be able to recoup your 5% deposit and reservation fee.

If you deliberately jeopardise the funding by (eg.) changing your job or simply deciding that you have changed your mind and you no longer want to proceed, then you will lose your deposit and reservation fee.