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Help to buy spread sheet help?
debtout
Posts: 97 Forumite
Hi recently submitted a help to buy application,for the first time buyer equity loan. I'm just waiting for them to process the application,but nerves are killing me 😂. having entered all the information as we did on the application,below are the results. Am I right that this would be authorised for HTB?, as the debt to household income ratio is 26.72%?
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If there are any reds, you will be invited to amend the PIF. It seems your deposit is too low.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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Oh really. So if there is a red then there is an issue? We submitted via a broker thoughkingstreet said:If there are any reds, you will be invited to amend the PIF. It seems your deposit is too low.
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I suspect this was remedied before the PIF was submitted. When you start the PIF process, the first section is the calculator and if it doesn't fit, you can't proceed.
Speak to your broker about the deposit amount entered on the PIF. Don't forget, the deposit is a minimum of 5% and more than that may be required if affordability isn't met using the minimum.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Hi many thanks, so if there is any red then this means something isn't right?kingstreet said:I suspect this was remedied before the PIF was submitted. When you start the PIF process, the first section is the calculator and if it doesn't fit, you can't proceed.
Speak to your broker about the deposit amount entered on the PIF. Don't forget, the deposit is a minimum of 5% and more than that may be required if affordability isn't met using the minimum.
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Yes, red means something is not right.
In this case is would appear that something is miss-keyed by a few pounds (possible the purchase price). The affordability figures are well clear.
£18,698 is 5% of £373,950
This will be resolve whilst you are applying for the authority to proceed.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.1 -
Hi all many thanks the ATP came through fine, appreciate all your support.1
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