Mychoice Homebuy - Confused!!!

Lou89

sideslipmike wrote: »

Hi Guys,

I applied to a company called Home2own requesting to go on the register for the Ownhome Scheme and MyChoicehomebuy, mid March and with-in a week i recieved a reply saying my application was sucessful, however i would be contacted as and when there was available funding via either companys, so far i have had nothing from either? Should i contact Mychoice and ask if they have my details and request a pack that everyone else seems to be getting?
Like most people its becoming a frustrating game waiting to see if we can be eligable for funding even though the chancellor has now just piled 80million back into these schemes for 1st time buyers?

Any advice is greatly appreicated guys as i have been watching people progress on these threads.

I applied online with Home2Own on Thursday and rang them on Friday to ask about the waiting list as I had heard it was quite long. I was told there and then that my application was successful and she gave me the number for My Choice Home Buy (which I have mislaid now but it is on all their posters which come up if you search on google) - when I spoke to the woman there she said that the funding ran out last year and the funding for 2009 only came through in April... They are currently back dating and have got as far as March at the moment... Bearing in mind my FA said that he had someone apply in January and they got their pack through about 3 weeks ago I think thats some good going really.

Apparently when they have got up to date they will apply to Home2own for our details and then will contact us.

She did say some people have been waiting for 6 months and I asked her if we were likely to be waiting that long. She said we should be waiting no more than a couple of weeks but understandably could not make any promises.

Its a waiting game now which is quite frustrating as the house we desperately want is having offers made on it and we are worried that it is going to go before we get our funding.

I have been advised to keep ringing them every now and again just to check on their progress but remember lots of people are in the same boat and if we all rang all the time they wouldnt get anywhere so I plan to ring up again if I havent heard anything in 2 or 3 weeks time.

I will let you know how I get on

April2009

Lou89 wrote: »

I applied online with Home2Own on Thursday and rang them on Friday to ask about the waiting list as I had heard it was quite long. I was told there and then that my application was successful and she gave me the number for My Choice Home Buy (which I have mislaid now but it is on all their posters which come up if you search on google) - when I spoke to the woman there she said that the funding ran out last year and the funding for 2009 only came through in April... They are currently back dating and have got as far as March at the moment... Bearing in mind my FA said that he had someone apply in January and they got their pack through about 3 weeks ago I think thats some good going really.

Apparently when they have got up to date they will apply to Home2own for our details and then will contact us.

She did say some people have been waiting for 6 months and I asked her if we were likely to be waiting that long. She said we should be waiting no more than a couple of weeks but understandably could not make any promises.

Its a waiting game now which is quite frustrating as the house we desperately want is having offers made on it and we are worried that it is going to go before we get our funding.

I have been advised to keep ringing them every now and again just to check on their progress but remember lots of people are in the same boat and if we all rang all the time they wouldnt get anywhere so I plan to ring up again if I havent heard anything in 2 or 3 weeks time.

I will let you know how I get on

Hi,

We have heard back from catalyst and have been approved for the my choice homebuy scheme,
we have a meeting with FA in a couple of weeks. Now worried about getting a mortagage (due to the current recession etc) I have heard that not many banks lend towards equity schemes.
Also my partner and i are worried about past default sums???

Cureton12

I'm afraid to disappoint but I too had applied to the scheme with Catalyst. I have just phoned them in response to an article in today's Times and have been informed that all of the funding ran out as of today.

April2009

Cureton12 wrote: »

I'm afraid to disappoint but I too had applied to the scheme with Catalyst. I have just phoned them in response to an article in today's Times and have been informed that all of the funding ran out as of today.

Did they say when funding will become avaliable again?
as we are seeing Fa in a couple of weeks - what would be the point?

were you in the process of looking for a property then?

Cureton12

The woman wasn't particularly helpful. She asked if I had submitted a property information sheet, and when I said "no", she apologised and said that all of the funding had been allocated for this year.

I had spoke to an IFA and was at the stage of looking for property. I actually put in an offer on a really nice flat last week, but the vendor was having second thoughts about selling, so it was on hold for a week.

As far as I know, there wont be any more funding if all of the 2009/2010 loans have already been allocated.

rs82uk

Yes apparently all the money from the government has run out.

April2009

rsootarsing wrote: »

Yes apparently all the money from the government has run out.

i have just phoned them to explain that we have meeting with FA in a few weeks and asked if we should keep appoint as heard funding has run out - and she said that all applications will get looked at and prioritised????

i dont think they really know!

Cureton12

April2009 wrote: »

i have just phoned them to explain that we have meeting with FA in a few weeks and asked if we should keep appoint as heard funding has run out - and she said that all applications will get looked at and prioritised????

i dont think they really know!

Have you already found a property? Maybe I should keep going. I am sure that some of the people that have applied will not be accepted for mortgages.

April2009

I just called again!
they said to try and move appoint with FA forward and find property and submit details sooner rather than later?????

Cureton12

April2009 wrote: »

I just called again!
they said to try and move appoint with FA forward and find property and submit details sooner rather than later?????

I'm glad they seem to know exactly what they're doing!