Co-ownership

AWeeCuppaTea · 9 January 2015 at 8:33PM

Hi there

Just wondered if anyone had any experience of co-ownership and their turnaround time for applications?

Thanks

chrisross22 · 9 January 2015 at 11:04PM

I applied just under 2yrs ago. I applied, had my interview and was approved within 2 weeks.

Just make sure all paperwork is correct and there before you apply.

AWeeCuppaTea · 9 January 2015 at 11:32PM

chrisross22 wrote: »

I applied just under 2yrs ago. I applied, had my interview and was approved within 2 weeks.

Just make sure all paperwork is correct and there before you apply.

Thanks for that, I was expecting it to be much longer. I suppose it depends how many applications they have at the time.

I provided everything they asked for and more, probably gave them too much!

Fingers crossed for a speedy turnaround then!

chrisross22 · 10 January 2015 at 12:17AM

Def better to provide them with to much than to little. We were worried about the interview but there was no need to be. It's very informal and it's just to check details and ask any questions etc. We were told we were accepted on the day and got it in writing a few days later.

Good luck!!

AWeeCuppaTea · 10 January 2015 at 6:06PM

chrisross22 wrote: »

Def better to provide them with to much than to little. We were worried about the interview but there was no need to be. It's very informal and it's just to check details and ask any questions etc. We were told we were accepted on the day and got it in writing a few days later.

Good luck!!

Wow, accepted on the day, thats pretty awesome. Would love that, saves the worrying!

Did you find it was fairly straightforward getting the mortgage after being approved for co ownership?

chrisross22 · 15 January 2015 at 6:22PM

Yep fairly simple. Before we even applied to Co Ownership our mortgage advisor had already checked with Progressive that we would get the mortgage so as long as the Co Ownership was accepted we knew we would get the mortgage.

AWeeCuppaTea · 15 January 2015 at 8:42PM

I went to Ulster Bank on Wednesday and they did an initial affordability assessment and said it all looked fine

Paid my co-ownership fee yesterday, and they've booked my appointment for next Friday. Hopefully they will have done the valuation by then so we can find out pretty quickly.

Thanks again

Oliviasmom · 19 January 2015 at 10:50PM

My mortgage advisor told me if your invited for interview, it's been granted,it's just an informal interview. I'll be applying in the next few weeks hopefully.

leemuddywaters · 20 January 2015 at 2:18PM

We are also applying in the next few months, be good to hear any advice and how you got on

AWeeCuppaTea · 20 January 2015 at 9:56PM

Oliviasmom wrote: »

My mortgage advisor told me if your invited for interview, it's been granted,it's just an informal interview. I'll be applying in the next few weeks hopefully.

Oh my goodness I hope that's true!! The estate agents told me co-ownerships valuer has been in touch too, so it's all looking positive so far!!

So that's;

Offer accepted 7/1/15
Application submitted 9/1/15
Fee paid & appointment booked 14/1/15
Valuer instructed 15/1/15
Appointment 23/1/15

That's all pretty quick compared to stories I heard of it taking ages! It actually put off a couple from accepting an offer from us on another property before Christmas because we were going co-ownership!!

I'll keep the thread updated

happyhome123 · 21 January 2015 at 12:56PM

HI

I am going to apply for co ownership this year. However wondering how you work out whats the max amount you can apply for etc. Many thanks for any help at all. :beer:

Co-ownership

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