Pleased to welcome back Homes England in our regular monthly conversation at 11.30am on Wednesday 17th July.
Please use this forum to create debate amongst members and we will bring these questions to the meeting.
Thanks
NSG Team
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sales and marketing for housing professionals
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It would be good if HE could talk about the rationale of recording the 'indicative maximum' ' and 'actual' figures for the total mortgage and monthly mortgage payments. We are concerned that this will confuse customers.
On the mortgage buyer sign-off form what are HE looking to be recorded in the section Position for Assessment
Could HE explain a little more about these sections on the cash buyer sign-off sheet Independent financial advice signposted/
Independent financial advice sought (Not mandatory)
It would be good if HE could just clarify that it is OK to just complete a stage 2 assessment, without the need to do a stage 1 assessment?
Pre meeting questions: Questions for HE are as follows:
How do you think this will effect the customer journey for people looking to purchase a shared ownership home? If each provider has different affordability policies this may cause another layer of complexity for buyers.
We are concerned that we cannot insist cash buyers engage with an IFA and if providers cover this cost it could be considered a conflict of interest. Some clearer guidance on this would be appreciated. Can the monthly assessment still be assessed by a mortgage broker?
Different affordability methodology between the GLA and HE will cause confusion customers. If the GLA are intending to continue to use the HCA calculator how will this be kept up to date with changes in tax and national insurance deductions?