We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Mychoice homebuy funding....any updates?

aimeesmummy2007
aimeesmummy2007 Posts: 52 Forumite
in House buying, renting & selling
Hey all, I was just wondering what housing associations have got funding for this scheme?

We tried to buy this house we are renting with Moat but they run out of funding at the end of April.

I wondered if anybody has heard when more funding will be available? I havent rung them for months as I was so upset that we couldnt buy this place.

Any info would be nice, thanks :)

Comments

  • calmspirit
    calmspirit Posts: 2,962 Forumite
    sorry to be the bearer of bad news but I was told that no further funding will be available this financial year(last year moat received further funding in october).....and also the funding for next year (2010) is not be allocated to Mychoicehomebuy but to other schemes.

    will try to find the info later for you.

    hope this helps in some way. I know it's not what you want to hear but it is the current situation as far as I know.......I am open to be corrected!

    best of luck
    YNWA JFT96 :A
  • aimeesmummy2007
    aimeesmummy2007 Posts: 52 Forumite
    Moat got further funding this year in January also but we didnt get our maximum purchase price until March so by the time we put an offer in they had just run out.

    Please keep us updated if you hear anything, thanks :)
  • chadhar
    chadhar Posts: 9 Forumite
    funding has finished and will not be available next year i have just been told by them
  • phi0005
    phi0005 Posts: 1 Newbie
    People trying to get on the property ladder but unable to afford the full deposit for a mortgage will have the difference made up by the government.
    However, the scheme was found to have run out of money - because too many people had signed up.
    A spokesman for the CLG said that the government has injected extra cash into other schemes to help first-time buyers.

    prohomeincome.com
  • Messi-Kris
    Messi-Kris Posts: 10 Forumite
    Is there any other schemes to help first time buyers apart from Mychoicehomebuy and Ownhome??
    :beer:
  • Dinah93
    Dinah93 Posts: 11,466 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker Bake Off Boss!
    If you can't afford to put anything aside to save a deposit think long and hard about whether your budget is too tight to be able to afford to meet the commitments of a mortgage, maintenance charge, repairs etc.
    Debt January 1st 2018 £96,999.81
    Debt September 20th 2022 £2991.68- 96.92% paid off
    Met NIM 23/06/2008
  • squinty
    squinty Posts: 573 Forumite
    The new Hosing Minister, John Healy, announced last week that the open market homebuy scheme was to be scrapped:

    http://www.insidehousing.co.uk/story.aspx?storycode=6505307
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.7K Banking & Borrowing
  • 253.4K Reduce Debt & Boost Income
  • 454K Spending & Discounts
  • 244.7K Work, Benefits & Business
  • 600.2K Mortgages, Homes & Bills
  • 177.3K Life & Family
  • 258.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture