Help to Buy - PIF and mortgage fees

Celes

Hi, 

If any of you have experience in this I'd be grateful. Trying to get through to Help To Buy, but due to their backlog getting through is a nightmare and doesn't seem to be happening soon. 

I have been accepted for a Help To Buy equity loan. I filled in their PIF (Property Information Form) and filled in the amount of mortgage and equity loan needed. I just put the difference between my deposit and the 40% equity loan the government would give in London. 

Now sorting out the mortgage. There are 2 options - pay the mortgage fee upfront or have it included on top of the loan. What I'm not sure about is whether the latter is allowed under Help To Buy, or in the way I have filled out the PIF / got authority to proceed after the affordability calculator. 

There is no guidance on this online in any of the documentation I can find. My question is essentially does my mortgage have to exactly match the amount in the PIF? Or would they make allowances for the mortgage fee to be added on. 

Makes a bit difference as to what mortgages I apply for. I don't want to delay the process if I go down the fee added on process but then discover later that Help to Buy say it's not allowed. 

Any insight from those that have come across it before would be fab!
Thanks,
Celes

amnblog

Yes you can add the fee. It does not affect the PIF or ATP

Celes

amnblog said:

Yes you can add the fee. It does not affect the PIF or ATP

Brilliant, thank you. My broker wasn't exactly being helpful and neither was my conveyancer. 

sal_III

You can definitely add the fee, that's how we did it.