QA FAQs
“We’ve been asked to speak to a specialist financial advisor to arrange our mortgage; why is that?”
Firstly, you don’t have to use a specialist that has been recommended by a HomeBuy provider, but it can often make the buying process simpler and smoother as they are used to working with that Housing Association or Developer and have a good understanding of the schemes. You may however, be required to have a financial assessment with that advisor; you just don’t have to use their services to arrange your mortgage.
When buying a home through any of the HomeBuy schemes, you are required to maximise what you can afford to buy. Having a specialist IFA work this out for you means they can be completely transparent with how much it all costs, the deposit you will need, and will ultimately be able to complete the required financial assessment as quickly as possible for you.
HomesinHants has our own appointed panel of Independent Financial Advisors (IFAs). There’s no catch, we’re simply
pointing you in the direction of advisors that know their stuff! Using a specialist financial advisor means you will be speaking to an expert who understands the ‘ins and out’ of a shared ownership or equity loan mortgage and won’t be arranging a mortgage that isn’t affordable for you. Many mortgage companies also offer specific products for buyers of low cost home ownership schemes, and a recommended advisor will know all about what is available. This could save you money, and will certainly be better than arranging a mortgage that is not suitable and having to start all over again.
The mortgage and the legal work is not as exciting as the shiny new home, but make sure you choose the right advice and you’ll be in your new pad in no time!
“What happens once I’ve seen a property I like?”
Tell the Housing Association or Developer! If you get sent information in the post, on email, or you see a scheme on our website, contact the provider directly to express an interest. They will then be able to tell you what process follows, and if they will be able to offer a viewing.
Take a look at our ‘What Happens Next?’ guide; downloadable from the website in the ‘FAQs’ section, or contact our customer service team on 023 8062 8004 or
info@homesinhants.co.uk for a copy.
HomesinHants Roundup - Spring Issue 19
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