Equity Loan + Incentive = Deposit?

ChrisJR90

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?

vixelite

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?

If you are using the Governments HTB Equity Loan a different AIP has to be ran to a 'normal' residential mortage AIP. 

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.