HTB - Developer funding allocation

shaysonic

Hi all,

Me and my partner are buying through the HTB equity loan scheme and submitted all our paperwork online. We received an update on the portal that some amendments were needed from us and more information was needed from the developer. 

We did what we could on our end and reached out to the developer to see if they provided the HTB agents with the information they requested. It turns out that as our purchase won’t be completed by the end of this month the developer has had to reapply for funding allocation for the next year for this property? We’ve been informed that it can take up to 2 weeks for funding to be confirmed and only then we can resubmit the app.  Then of course another week or so for the HBT agent to look through the resubmitted app.

I was just wondering if anyone has had this happen to them before and what was there experience?

we’re just worrying that we’ve paid the broker and solicitors for no reason and that this property sale might not go ahead - might just be us overthinking!

thanks!

kingstreet

It's normal and it happens regularly.

The builder will sort it with the HCA. Surprising it wasn't done towards the end of last year like usually happens.