Mortgage delayed because of incentives from builder

vikashkumar23

Yes, told our finance advisor about this issue. 
Our finance advisor mentioned that they will get the valuation report only by next week. Fingers crossed. 

917700

If you are using help to buy, you can take any incentive from developer. That’s clear in Santander lending criteria.

mortgagetakingages

Reviewed criteria and it says that you can't have cash but fees covered up to 5% is OK. I think you will be fine and it's been misunderstood by surveyor

vikashkumar23

Got response from Santander that they don't accept the incentive provided by the builder. Our builder mentioned that £3700 as contribution towards moving cost in reservation form. Santander says since £ symbol is used they consider it as cash incentive and they don't accept cash incentive. Also our builder says they can't amend the reservation form and mention the term legal and estate agent fee.

But builder mentioned our finance advisot that they pay directly to solcitor and estate agent and not a cash back.

Wondering how come santander didn't pick up this when we submitted all our document for applying mortgage and why they sent someone for valuation. That too 3 weeks delayed.

Now our finance advisor recommended that we need to go for different lender.