Own Home Scheme Pros and Cons

mary4kids

Hello
Well enough is enough. I have been waiting or 14 weeks and have heard nothing about it. I am writing to primeminister now. If they gave us a hand to help us to buy a house then they should be able to do it without giving us the depression. It should be no longer than a normal mortgage application takes. Also it is not just buyers who suffers from the waiting game, sellers suffers too. Its not fair for both parties. So what about all of us to go on street protest.

Cloister

Woah Woah Hold on there....

My thoughts here are that it's a process that takes time - there are many many applicants and more come in as the scheme gets more widely known.

Checks have to be done and I personally prefer this because it means that money isn't just being wasted away too quickly. The checks also insure that people can actually afford it and also gives you time to think.

I don't think it's fair or unfair on the seller because you are not supposed to find a property till you have been provisionally accepted. which is what I did. I started in January and have been very patient with every step and am happy with my progress even though it IS slow going.

The Government doesn't HAVE to help it's not your right to have this scheme. it's to give a helping hand to as many people as it can.

And to be perfectly honest your letter probably wouldn't get to the prime minister - don't you think he has other more inportant things on his mind right now?

I think whats required here is the proper British attitude of find a queue and join it and wait in line till it's your turn.

C

superfran_uk

mary4kids wrote: »

Hello
Well enough is enough. I have been waiting or 14 weeks and have heard nothing about it. I am writing to primeminister now. If they gave us a hand to help us to buy a house then they should be able to do it without giving us the depression. It should be no longer than a normal mortgage application takes. Also it is not just buyers who suffers from the waiting game, sellers suffers too. Its not fair for both parties. So what about all of us to go on street protest.

Er, wouldn't it be better to wait your turn, like everybody else has to? Are you extremely special or something?

Remember it isn't your right to be given funding to buy a house! If you get on to this scheme you are lucky, there are still many thousands who will never buy a house. Most people would say if you want something, you should have to pay for it yourself without the taxpayers help... I am not one of those people but I do accept that this is something which is a great opportunity rather than something I am entitled too!

If you have to wait or you don't qualify, it's frustrating but thems the breaks! Gordon Brown isn't going to suddenly pull out all the stops for you or pay out of his own pocket just because you kick up a stink!

And your comment about it not being fair on the seller - you shouldn't even be LOOKING for a house yet, let alone have a seller involved. Chill the **** out!

I am starting to tire of the negative comments on here from from people who have jumped the gun and then had to wait. I for one have no gripes with Ownhome and I think many of the comments are unfair and wholy unjustified.

I applied, forgot all about it, and then when I got my letter booked an interview... forgot all about that and got on with my life in the meantime! If we're looking at timescales, I applied back last year and I'm probably going to move in July, so it's taken the best part of a year, but you don't see me complaining because I never expected it to be instantaneous. If everybody did this rather than signing up to rightmove alerts and looking round houses as soon as they've applied, the world (well, this thread!) would be a much happier place!

TL;DR version - Beggars can't be choosers.

debhome97

This is to other newbie who was talking about being declined as she works at home as a childminder. I am still able to get onto the scheme and I work from home but that may be because I never see customers at home, possibly its an insurance thing with you being a childminder. As I was asked that question about if I worked from home I said yes and they asked me - do clients come here I said no I go to them or email them etc (I am web designer). Where does it say this rule by the way I can't see it???

By the way on the matter of letters and confirmation being received I got my ownhome confirmation today but had to re do the mortgage application so will have to wait another 5 days for it to be amended by underwriters, after it being accepted straight away before...all so complicated will hopefully get there in the end! thanks

jockosjungle

Just had my interview for this scheme, bit of background which hopefully will dispel a few myths and make people who have already had offers on houses think twice. Would like to know if others experiences match this..

Background I live in Warrington as a first time buyer, combined income of £25k with fiancee.

I JUST qualified, in Warrington the meximum i was allowed for a 2 bedroom house was £113k, the minimum the house had to cost was £109k and co-op said they would only lend the homeown bit in multiples of 5% meaning i had to buy a house that cost exactly £109k and a few quid.

People need to be wary, its not a scheme thats going to get you a dream house. But porbably a lower end semi-detahced.

Also co-op flatly refused to tell me how much they would be prepared to lend me to take to an estate agent. Just messed me around for half an hour.

Just a warning to others not to get your hopes up, just beacuse you earn less than 60k doesn't mean you qualify. I wouldn't have qualifed if i'd earned £26k

R

coffeedog

Hi, i'm on the waiting list for the ownhome scheme . Been about 8 weeks now but waiing for the letter to arrange an eligibility interview.

i was just wondering what the telephone interview entails and what sort of things they ask and are looking for, to give me a bit more info. It would be really useful and set my mind at rest a bit!

jockosjungle

Nothing much really, just to make sure you are eligable. Name, address, NINO, income, where you want to live, etc. Who you work for, how long have you worked there, nothing sinister

R

coffeedog

That's really helpful, thanks a lot.

jockosjungle

Also don't get your hopes up too much! Had a fiancee in tears today

R

superfran_uk

jockosjungle wrote: »

Also don't get your hopes up too much! Had a fiancee in tears today

R

Can I ask why? You got accepted! What was she expecting?