My Choice Homebuy

SL123

Hi

My partner and I have applied for my choice homebuy and we have been accepted. We are currently at the stage where we have sent our payslips and bank statements to Financial Advisors and they have sent it on to Moat for assessment on how much we can borrow. I have read a few posts on here about this scheme but just wandered if anybody has had any dealings with Moat. I have heard that there is alot more funding this year so has anybody been successful?

Thanks

LouB06

Hi,

My partner & I have applied for the Mychoice Homebuy scheme just over a week ago but still havent heard anything as of yet!!

How long does it take for the application to be processed?

llh189

I was previously approved and then my local scheme ran out of money. They have now had more funding and I have found a house - my local scheme - key Homes East are currently reviewing applications up to the 4th March. They would have received mine on or around 6th March.

My F A who is on my local schemes recommended list thinks they should get to my application by the end of this week and I should hear early the following week. That will be somewhere between three and four weeks, to get an answer.

Please bare in mind that I was already through the first application stage.

Response times might also extend as my local scheme are apparently swamped with applications.

Keeping my fingers crossed - but I am not making any plans or getting excited until they have signed off my funding and I might not know that for weeks.

This is my third attempted and I have faith in the scheme but the number of people applying verse's the funding available are mismatched!

Hope it works out for the both of you.

HomeBuy3780

This is great news that you guys have started application. What about Thames valley housing?

They are just telling me that they cant do any thing until funds are available. I can’t even put offer and get house approved. So far i have just got verbal affordability from IFA...

Any ideas? Any body waiting for TVHA?

Thanks...

SL123

Hi LouB06

They told us it would take 8 days and on the 8th day we had a letter from them saying we had been accepted, we then rang one of the recommended FA's and they emailed us a client detail form which we had to fill in and email back along with our bank statements and payslips. We was told it would take up to 4 weeks to let us know how much we can borrow, it jas now been 3 weeks and 5 days!! So hopefuly we'll hear soon.
Have you heard anything yet? R u with Moat too?

llh189, after reading alot of stories on here about funding running out after you have been accepted, I got worried and emailed Moat and they come back to me saying there was still funding available in my area, so hopefuly it should all go to plan...fingers crossed!!

llh189

I still haven't heard anything, chased my FA today. Fingers crossed for next week especially as my vendor is getting itchy feet and tired of waiting for me, he has found a property and wants to do a survey but can't until I know I can get the funds from KHE.

amberlindsay

Hi IIl189,

We're in almost the same situation as you (with Key Homes East); however we sent off our application around the 10th March. I phoned their office on Friday (20th Mar) and they said they were working on applications from the 9th - I would imagine you (and I) will hear something from them soon.

Just a quick question for anyone reading this though; I'm slightly concerned that the people we are hoping to buy the house off, will pull out if we delay them for too long. Does anyone know of this happening to other people on this scheme? Of course; I could be worrying about nothing, but past experience with this scheme tells me that I ought to expect the worst and be cautious every step of the way!

Thanks and good luck everyone :-)

Amberlindsay

vixarooni

Ive had dealings with Moat. Im not impressed, i constantly have to chase them up ALL the time. Its like having a full time job. I asked if they do such a thing as hold meeting to discuss options that we could look into. No. Its a nightmare!!!

lucielocket_2

I am another one who applied online with Key Homes East on 9th March. I have just had a letter back today asking me to sign a form and send in a copy of my payslips (already sent them online but hey ho)
I am now hoping I will hear back really quickly, as I have found a property that would be perfect - I hate the unknown of when I will hear back each time

LouB06

HomeBuy3780 wrote: »

This is great news that you guys have started application. What about Thames valley housing?

They are just telling me that they cant do any thing until funds are available. I can’t even put offer and get house approved. So far i have just got verbal affordability from IFA...

Any ideas? Any body waiting for TVHA?

Thanks...

That's who we've applied through. Called them today as it's now been 2 and a half weeks since we applied. I was just told that I should get a letter in a couple of days... hmmmm, we'll see!!

We have seen new 2 bed flat and it's the only 2 bed left so we really want to hurry it along now!!

Semicolon

Hey all,

Newbie here..

We applied for MyChoice HomeBuy in January, we filled an online application form, forwarded to Catalyst Housing Group, which covers our area. We got a reply in about 10 days, detailing how much assistance we could get financially. They gave us a minimum and maximum financial limit to the value of properties that we are eligible to look at.

After that we spoke to the IFA , submitted all the paperwork that was required, met with him for an appointment to discuss how much would be the mortgage amount and how much would be the assistance from the housing group.

The next step was to see a house and make an offer. We found one we liked, offer was accepted and now we have forwarded all the property details, vendor iniformation etc., as required, to the IFA who in return as forwarded them to Catalyst. Now we wait. We hear it can take up to 4 weeks for them to get back to us. Our concern is that the vendors have a 6-week deadline on the property thay have made an offer on, so that automatically puts us on a deadline, but we have no control over it. It will all be down to the efficiency of the Catalyst staff and their work load.

Good luck to everyone else who have applied !