lift open market shared equity scheme

weesie81

thats great news can i ask if it all went smoothly enough? our solicitor asked us to give 10 weeks due to their being a 3rd party (lift) involved

our finance with hbos is all approved and we are due to get our keys 8 weeks on friday. :T

Abcynthia

It was Nationwide that dragged their heels for us but everything else went fine. As soon as we got our mortgage offer through, LIFT request 3 weeks notice of the completion date so we gave them a month. The only issue is they nearly gave us too much money. Nationwide asked for a 5% deposit and when the paperwork came through from LIFT to my solicitor it came across as us not having to give any money at all. This was all 3 days before completion and I was panicking that Nationwide would pull our mortgage offer if they thought we were lying about our 5% deposit so I had to do some chasing to get the letter and amount changed. On the day though we had the keys by 11am You have given them plenty of time to get things sorted so I wouldn't worry about it. I would say however from us receiving our letter to completion it took us just under 3 months and that was because of Nationwide more than anything! I still can't get my head round the fact that this is (OK I know its the banks etc but still) ours and theres no landlord to tell me we can't have our cat or we can't paint a wall a certain colour. I even have a driveway now which believe me is a novelty for me as I used to have to drive 3 times round the block (1 way system) to get a parking space even 100 yards from our door! The moving is stressful but so worth it. I'm sure you'll be truly happy weesie!! Much luck to you!

weesie81

well thats good that it all went ok in the end :T although i can understand how you felt panicked i am still jumpy everytime the phone rings incase it all hits the fan,i will feel so much better when i get those keys in my hands.
we have our mortgage offer paperwork from hbos through, it came yesterday and we are sorting the buildings insurance that lift says it needs 3 weeks befoe completion.
hbos have given us a quote which we are thinking seems quite high but we have not signed anything yet so will try to obtain a few others before making a decision.

i know exactly what you mean i keep pinching myself that this is really happening to us!
the thing i am most looking forward too is the double glazing lol our rental home is only single glazed and its always freeezing cold here.

i am so pleased for you and i wish you all the best in your new home.

rhodod

Just had a phone call saying ive been accepted and my passport should be delivered today.

woop woop.

cant wait.

triggerhappy_2

Reading this thread now makes me sad

Congratulations though rhodod.

Just have to cross my fingers and hope they do this again but given the economic situation and cuts expected all over the place that might be wishful thinking

rhodod

what happened trigger?

triggerhappy_2

They ran out of funding for the area I wanted, despite telling me there was plenty left when I applied. Now I'm on a waiting list in case anyone pulls out but people in socially rented accommodation will get priority over me so it looks extremely unlikely for me as a private renter

You got your eye on anything yet?

rhodod

i see, well ive looked at a few places, me and my partner applied about 6 months ago but was refused because she has already owned a property, so we left it at that. Now 5 weeks ago i applied in my own name and was accepted last week, im a tenant with AHP in aberdeen so she said i got priority, otherwise i was 90th on the reserve list.

I dont truly understand the whole system, as my fiance filled in the forms etc for me.

Fingers crossed for you.

I was told 5 weeks ago they had no funding and all of a sudden they do.... very odd

hope they get funds for you.

triggerhappy_2

Thanks... I don't have high hopes but will be keeping my fingers crossed.

Good luck with the hunt!

rhodod

thanks.

was it the open market scheme you were going for?