Key worker scheme mortgage - no government budget available ???

PottyHouse_2

Hi Sandra,
Thanks for your reply - it's very informative and helpful.
Its kind of what I expected which is a shame - just a waiting game and we feel like we are in "limbo" - bet you do too.
Oh well, we'll just plod on - luckily we haven't found a house we love yet.
Good luck with your move - let me know how you get on.
Louise

wolfman1

Yes we have heard of this problem, in fact we used it to our advantage when negotiating to buy a house that had already had an offer accepted, we offered a little more and in a better position to buy we succeeded. (shame on us)

CLAPTON

Actually the homebuy scheme is NOT restricted to 'key workers'; indeed it's not very clear whether they are given priority or not.

It does seem strange to me however, that a teacher, town planner, nurse are all key workers

but people who provide you with clean water, electricity and gas, delivery drivers are not key workers

In practice, if tomorrow morning you go up and found there was no running clean water, sewerage wasn't being pumped away, the frig had rotting food (no electricty) and there was no food in the shops would we all agree they aren't key workers ?

FoxtonsRIP

PottyHouse wrote: »

Shame about the bitter and twisted replies .......
I think Key Workers do an excellent job for their communities and do not get paid nearly enough ..............
I would rather see my taxes going to a well deserved family to get a foot on the nightmare property ladder than pay for ...... luxuries for criminals in prison, jobless baby factories etc etc etc the list goes on ..... sorry, was I getting on my "high horse" then??!! It must be reading some of these Forum posts !!!!

Don't you get it? If these schemes didn't exist then house prices would have to fall to a level where the keyworkers you so adore would be able to afford to buy a home without getting into so much debt.

PottyHouse_2

Was purely asking for help/advice from anyone who is in a similar boat - did'nt realise I was creating a competition for nominations of the person who does the most important job ....
forgive our ignorance then .... not sure what to do now .... did we force our buyers into making an offer and getting theirselves into life long debt ..... perhaps we won't be so silly as to accept any offers from anyone who just wants to get their foot on the ladder
(nobody knows what individuals's circumstances are, some are too quick to judge).

mary4kids

House prices going up not because those schemes as those schemes are only couple of years old and house prices started going up in the last 10 years. Ridiculous to blame those schemes for the house prices to rise.

poppysarah

mary4kids wrote: »

House prices going up not because those schemes as those schemes are only couple of years old and house prices started going up in the last 10 years. Ridiculous to blame those schemes for the house prices to rise.

but sensible to blame them on prices not falling..

Stop buying half a house. It's a STUPID idea. You would never sit there and think "oh I wish I could buy 50% of a house"

carlos333

Hi
I am a teacher trying to get on the property ladder and also had problems with this keyworker mortgage scheme. I applied for it in March, was accepted and informed that money was available. I was told to obtain various documents and information from a financial advisor and send them to the scheme before the amount they would be prepared to lend was decided on. This really raised my hopes. Having sent the requested documents, I was kept waiting for 10 weeks with no reply or acknowledement whatsoever. Whenever i contacted them I was palmed off with excuses and empty promises of when I would hear from them. Finally I was told that the funds had run out. So I continue to pay for someone elses mortgage when I can perfectly well afford one of my own, but cannot afford to save a deposit, (due to extortionate rent) or get a 100% mortgage, like lots of people had before the banks screwed up. My answer to those who question keyworkers' entitlement to getting a little help with this - If I could be paid a salary for the 4 years I trained to be a teacher and have my student loan written off, I would easily be able to afford a very sizeable deposit.