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Help to buy refusal
HTB123
Posts: 1 Newbie
Hi there,
Today we had our help to buy equity loan refused. They have emailed us saying:
"We are unable to proceed as the developer either does not have a sufficient level of approved forecast with Homes England for the Help to Buy: Equity Loan scheme. At the moment funding can take up to ten weeks to be approved.
The Developer will need to contact Homes England to resolve this.
Once resolved, please log into the portal and resubmit your previous application."
I assume the "either" part in the first line is just a typo.
We have forwarded this email to the vendor and will wait to here back from them. In the mean time I came on here hoping someone might be able to shed some light on what this means.
I guess the developer has to apply in order to be part of the "help to buy" scheme. Presumably they have messed up somewhere.
Thanks in advance for any thoughts or advice.
Today we had our help to buy equity loan refused. They have emailed us saying:
"We are unable to proceed as the developer either does not have a sufficient level of approved forecast with Homes England for the Help to Buy: Equity Loan scheme. At the moment funding can take up to ten weeks to be approved.
The Developer will need to contact Homes England to resolve this.
Once resolved, please log into the portal and resubmit your previous application."
I assume the "either" part in the first line is just a typo.
We have forwarded this email to the vendor and will wait to here back from them. In the mean time I came on here hoping someone might be able to shed some light on what this means.
I guess the developer has to apply in order to be part of the "help to buy" scheme. Presumably they have messed up somewhere.
Thanks in advance for any thoughts or advice.
0
Comments
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Had same issue - easy solution - developer needs to apply for funding which they haven’t..once finding is allocated you can then re apply to HTB. Our developer funding allocation had expired..took them ten days to reapply and get it granted and then we were offered HTB.HTB123 said:Hi there,
Today we had our help to buy equity loan refused. They have emailed us saying:
"We are unable to proceed as the developer either does not have a sufficient level of approved forecast with Homes England for the Help to Buy: Equity Loan scheme. At the moment funding can take up to ten weeks to be approved.
The Developer will need to contact Homes England to resolve this.
Once resolved, please log into the portal and resubmit your previous application."
I assume the "either" part in the first line is just a typo.
We have forwarded this email to the vendor and will wait to here back from them. In the mean time I came on here hoping someone might be able to shed some light on what this means.
I guess the developer has to apply in order to be part of the "help to buy" scheme. Presumably they have messed up somewhere.
Thanks in advance for any thoughts or advice.Wouldn’t worry just talk to the developer and get them to sort it ASAP.0
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