Seeking a financial advisor
Before you are able to submit your application, you are required to undertake a financial assessment to ensure you are able to sustain the costs of home ownership. We work closely with The Mortgage People (TMP). Financial Advisors will undertake this assessment on your behalf and can advise on mortgage products. Below details the steps required to use Alliance’s financial advisors to complete the financial assessment:
- You'll need to register through Help to Buy's website ensuring that the information on your application is accurate and up to date.
- You’ll need to speak with lenders or a mortgage advisor to obtain a Mortgage Agreement in Principle (AIP). An AIP will let you know how much money you can borrow, and give you an idea of how much you can afford to spend on your new home. You can choose to use your own mortgage advisor / financial advisor to obtain a AIP, go direct to the lender, or our financial advisors (whose details are in step 3) can help you to obtain a AIP as part of the financial assessment.
- Visit https://www.tmpmortgages.co.uk/ to complete your online assessment.
- The Mortgage People (TMP) will review the information you have provided and will contact you to discuss or request additional documents.
- The Financial Advisors will complete a financial assessment on your behalf and send you a copy. The financial assessment will include completion of a Budget Planner & The Homes England Affordability Calculator.
- Should you not require a mortgage to fund your purchase or have already acquired a mortgage with your own broker, you're still required to undertake this financial assessment with either The Mortgage People.
- As part of the application process your Financial Advisor will email a copy of your completed financial assessment and issue the Mortgage Agreement in Principal to us.
This concludes the application process. Please note that shared ownership applications are processed on a first come first served basis, on the time and date applications are received by Alliance Homes; however, any applications from military personnel will be given priority. Once the financial assessment has been completed, you will be contacted with the outcome and appropriate next steps which will include gathering documents to verify your application.