We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Equity Loan + Incentive = Deposit?
ChrisJR90
Posts: 13 Forumite
This may seem like an obvious answer to some. But I just want to double-check.
I have had an AIP agreed based on using my saved deposit, 10% equity loan and the builders 5% contribution (new build). Just to note, we are also first-time buyers.
Would it be correct to include the total deposit (from combined above) in my deposit, ready now? Or should I have only included my saved deposit?
I have had an AIP agreed based on using my saved deposit, 10% equity loan and the builders 5% contribution (new build). Just to note, we are also first-time buyers.
Would it be correct to include the total deposit (from combined above) in my deposit, ready now? Or should I have only included my saved deposit?
0
Comments
-
If you are using the Governments HTB Equity Loan a different AIP has to be ran to a 'normal' residential mortage AIP.ChrisJR90 said:This may seem like an obvious answer to some. But I just want to double-check.
I have had an AIP agreed based on using my saved deposit, 10% equity loan and the builders 5% contribution (new build). Just to note, we are also first-time buyers.
Would it be correct to include the total deposit (from combined above) in my deposit, ready now? Or should I have only included my saved deposit?
Our broker did ours for us as most don't include the option on their websites. When putting in all the deposit we had including the equity loan, with Halifax for example we passed. When the broker did it correctly, saying it was a HTB Mortgage we failed.0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.5K Banking & Borrowing
- 254.1K Reduce Debt & Boost Income
- 455K Spending & Discounts
- 246.6K Work, Benefits & Business
- 602.9K Mortgages, Homes & Bills
- 178K Life & Family
- 260.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards