Help to buy affordability 27 February 2019 at 3:10PM in Mortgages & endowments 2 replies 333 views

Mishomeister

A quick question here.


The friend of mine got a decision in principle accepted for a mortgage which would go together with a help to buy loan.


Bu the help to buy online calculator is saying that the help to buy loan is not available.


Does it now definitely means he can not get a help to buy loan and therefore buy the property?


The lenders DIP is fully aware that it is a Help To Buy application

Jack_Cross

Yes, the help to buy part is completely separate to the 75% mortgage.

Your friend would have to apply for an authority to proceed with HTB - at this point they will do the same calculator and fail it on the same terms.

Without an authority to proceed, you will not be able to apply for the 75% mortgage.

HTB will not care that a DIP has already been given and the lender will not be able to take the application further without authority to proceed, so unfortunately its definitely a no

kingstreet

You do both calculators and work to the output of the lowest.

Sometimes the HTB calculator is the determining factor, sometimes the lender's.