Help To Buy - anyone doing it? The implementation seems to be in a mess!

[Horrocious]

We had a mortgage agreed in principle on Monday, via Halifax with the scheme. We've been so close to being able to buy for nearly a year but just needed a little extra help so we were so chuffed.

We viewed a couple of houses that we'd had our eye on, loved one and put an offer in today

But the Halifax systems have apparently crashed today and our broker has been advised that they've taken back the offer of a 95% mortgage and will only offer us a 90% despite none of our personal finance info having changed

I thought the whole point of Help to Buy was to allow buyers to get on the ladder with a 5% deposit so WTF is up with that?

I though Halifax only launched their product offering today?

They've been able to offer decisions since last friday with the products being officially launched today.

Our broker reckons it might be a mistake and we'll be fine at 95%, it's just their systems going to cock.

Ahh...fingers crossed for you then!

Their system did crash yesterday. We are in the process of moving and tried to speak to them in the morning and couldn't due to the system being down. When I spoke to the advisor in the afternoon everything had changed since the week before. They no longer need income conformation and the amount we can borrow has increased for no reason. Can you speak to them again next week when they have everything sorted out and double check everything with them to see where the problem is and why they withdrew the product?

I would wait to be honest. The whole point of the second phase of help to buy is that the banks lend affordable mortgages (based on a 20% deposit). what they appear to be doing is charging rates of 5+% in other words having their cake and eating it!

this could work out as the biggest scam in history