Help to Buy ATP after mortgage application submitted

blogger201719

Went with a broker for mortgage with Kensington. Requested all documents and submitted application. Asked for proof of deposit, reminded him our first discussion about HTB. Told all they do is the mortgage and not HTB. I think as a broker should have advised me to apply for ATP before submitting mortgage application.  Now what happens if HTB is declined? Does not make sense submitting mortgage application before the HTB. Anyway I had to do that and now waiting for both

amnblog

The H2B Buyers Guide will tell you to obtain the Authority to Proceed before you submit a mortgage application.

This is a good idea, especially since fitting for affordability on the main mortgage does not necessarily mean you will fit affordability for the H2B Equity Loan.

I find it baffling when brokers ignore the H2B loan application, we always help the buyer with it.

blogger201719

amnblog said:

The H2B Buyers Guide will tell you to obtain the Authority to Proceed before you submit a mortgage application.

This is a good idea, especially since fitting for affordability on the main mortgage does not necessarily mean you will fit affordability for the H2B Equity Loan.

I find it baffling when brokers ignore the H2B loan application, we always help the buyer with it.

Thank you very much with that. Now I am stuck, if it's declined I lose all fees and broker will want me to pay for the mortgage application