KeyHomes East - Mychoice Homebuy scheme

charliebro

Hello, We are in process of selling our house and our buyers are on KHE scheme. Paperwork went in on 17th March and heard nothing. Very frustrating at present not knowing if you're sold or not? As we are not the ones applying we can't even ring for an update!!! Understand the scheme has moved to a different company now. How are you other people getting on? Feel so sorry for everyone waiting, bit of a shambles in our opinion.
Good luck to anyone waiting for the 'rubber stamp'.

l-cooper9

Hi there, I have been approved by KHE last month and had a morgtage in principle, we started looking and have finally found a new house we would like to buy. However, my FA has just informed me that all the funding at KHE is on hold!!
I have been advised not to do anything at the moment, don't reserve the new property or put deposit down. This means I could end up loosing the house we like. Does anyone know how long the funding will be hold for?

Laura

amberlindsay

Hi,

As far as I'm aware, the funding is on hold for as long as it takes them to clear the back log; judging by how long it has taken for our application to go through, I would say you're in for at least a month's wait. :-(

Like another person above; the funding for the house we want cannot be approved, until the person with the authority to approve the funding returns from her holiday...let's just hope her holiday has put her in a good mood for all of us that are eager for her return! :-))

Amberlindsay

spectre

l-cooper9 wrote: »

Hi there, I have been approved by KHE last month and had a morgtage in principle, we started looking and have finally found a new house we would like to buy. However, my FA has just informed me that all the funding at KHE is on hold!!
I have been advised not to do anything at the moment, don't reserve the new property or put deposit down. This means I could end up loosing the house we like. Does anyone know how long the funding will be hold for?

Laura

I think id be inclined to submit an offer and get the paperwork sent in to KHE , the longer its left the further down the queue it will be, you dont need to spend any cash at this point, only once the written confirmation is received then you appoint solicitors etc.

Matthays

Hi All

It seems there are a lot of questions being asked on here about the current availability etc of funding on the Mychoice Homebuy Scheme.

I am one of the recommended Mortgage Brokers on this scheme and can hopefully put some information on here that will answer your questions.

1. Keyhomes East are currentlty NOT ACCEPTING new allocation requests.
2. The last email I had from them said in bold that funding was still available.
3. This is no guarantee of course that funding will not run out during the catch up process.

Basically they are clearing the back log of current allocation requests and will then open it up again for new requests. Any files sent to them during this "pause" will simply not be looked at. They may even be returned to the sender.

I will endeavour to post sometihng on this forum when I get any updates from them as this may help a lot of you.

Hope this helps

Matt

l-cooper9

Hi,
Thank you for your replies and for letting me know. I am going to try and reserve one of the new houses that we are interested in ASAP to try get some funding in.

Laura

spectre

Matthays wrote: »

Hi All

It seems there are a lot of questions being asked on here about the current availability etc of funding on the Mychoice Homebuy Scheme.

I am one of the recommended Mortgage Brokers on this scheme and can hopefully put some information on here that will answer your questions.

1. Keyhomes East are currentlty NOT ACCEPTING new allocation requests.
2. The last email I had from them said in bold that funding was still available.
3. This is no guarantee of course that funding will not run out during the catch up process.

Basically they are clearing the back log of current allocation requests and will then open it up again for new requests. Any files sent to them during this "pause" will simply not be looked at. They may even be returned to the sender.

I will endeavour to post sometihng on this forum when I get any updates from them as this may help a lot of you.

Hope this helps

Matt

thanks very much any updates very welcome.

SelB

I spoke to them last week and they said that all the applications had been sent to Orbit Housing who assess the funding bit but Keyhomes East will do all the admin so they will contact you. They said that they had 'requested' my file from them a couple of weeks ago and are waiting...then the lady on the phone hung up on me! :mad:

They received my stuff on the 11th March...has anyone else from around this date heard anything?

sugarpants_2

This homebuy scheme sounds very hard to get into.

DH & I earn about 28k between us so cant see a hope in hell us managing to get a 3 bed house on the scheme

We have two small children and wanting to get get on the property ladder after privte renting for 6 years now. Nightmare.

Anyone give me some advice to cheer me up? I so want to own my own home. WE pay £875 a month rent so we could easily afford a mortgage but our annual income wont cover us for house prices in the South. Grr.

GazLFC

Hi everyone,

I seem to be in the same boat as a few of you, i applied around 4 weeks ago, got a responce at the weekend asking for some further i.d and stuff so ive sent that off. fingers crossed. really dont fancy the shared ownership route, i think its really unfair, the total of paying rent and mortgage ends up more than a 100% mortgage which seems a little immoral.

House prices are very reasonable where i live at the minute so i think it could be a very good time to buy, seen a very nice one at 100k.

Good luck everyone.
Gareth