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differance between yourchoicehomebuy and ownhome

I am confused between yourchoicehomebuy and ownhome schemes. We already applied for yourchoicehomebuy but not sure if ownhome was better scheme now after reading more. Did I understand right that you dont pay anything for 5 years with ownhome except your mortgage payments. With yourchoicehomebuy you pay %1.5 first year and it will increase every year %1. If it is how can I change my application to ownhome scheme. Also Is it right that you own %100 of the house you are buying with ownhome scheme but you only own %50 of the house with yourchoicehomebuy.

Comments

  • mary4kids
    mary4kids Posts: 87 Forumite
    Yes you are right. Ownhome scheme better than your choice home buy but yourchoice is quicker to get than own home. So if you are in a rush than your choice home buy is what you need but if you can wait get ownhome.
  • Wickedkitten
    Wickedkitten Posts: 1,868 Forumite
    Part of the Furniture Combo Breaker
    mary4kids wrote: »
    Yes you are right. Ownhome scheme better than your choice home buy but yourchoice is quicker to get than own home. So if you are in a rush than your choice home buy is what you need but if you can wait get ownhome.

    What makes ownhome better?
    It's not easy having a good time. Even smiling makes my face ache.
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