lift open market shared equity scheme

weesie81

i did not need one after all..... however i was told that i did right up until full application, then we were told as we had our mortgage promise before the changes came in then we did not need it.

hope this helps

VIGILANT22

babymango123 wrote: »

thanks for your reply how long ago did you get you mortgage? people are telling me all sorts of stuff no1 seems to be able to give ma a staight answer,my mortgage advisor says i need to pay a deposit but the bank said that they've only heard of the 5% deposit if its new build shared equity

You will require a deposit...Halifax no longer offer applicants a 100% mortgage of their share

babymango123

weesie81 wrote: »

i did not need one after all..... however i was told that i did right up until full application, then we were told as we had our mortgage promise before the changes came in then we did not need it.

hope this helps

thanks
how did you find this out and how long before you got your keys am due to get mine the 5th of feb?

rhodod

mine was back lkate november/ earld december i was given my promise from the bank and didnt need a 5% deposit,

babymango123

i had my promise when i applied for the lift scheme away back in august then i got excepted in october, my mortgage advisor then told me that you needed a 5% deposit for halifax, seen property and put offer in on december now been told one min a need a deposit the next a dont totaly :mad: did you got through a broker or did you go to the bank yourself?

rhodod

My financial advisor told me i didn't, said that Bank of scotland are the only bank doing 100% so it was all good.

haven't heard any different but if anything changes il let you know.

weesie81

i am due to get my keys on 5th feb too :T

from what i understand and was told by our mortgage advisor if you approach HBOS now you WILL neeed at least a 5% deposit

we had our mortgage promise from them at end of july and when we went for full apllication we did not need deposit as they were honouring the promise they made back then, i went straight to my own branch of HBOS not through a broker or anything and we are customers we do all our banking with them.

rhodod

im similiar, bank of scotland is the bank i bank with and have done for the last 10 years.

i hope i don't need another 5%

already having to put £6200 towards the lift scheme which i think is poop

sazmagee

Hi, really don't want to get your hopes up triggerhappy as not in the same area, however my OH and i received the same letter as you saying there was high levels of people applying etc in november last year so also thought we had no chance however received a letter today telling us we had now being excepted so yes you are put on a waiting list, just have to hope they continue doing it for you to get it.

Hope this helps

triggerhappy_2

sazmagee wrote: »

Hi, really don't want to get your hopes up triggerhappy as not in the same area, however my OH and i received the same letter as you saying there was high levels of people applying etc in november last year so also thought we had no chance however received a letter today telling us we had now being excepted so yes you are put on a waiting list, just have to hope they continue doing it for you to get it.

Hope this helps

Thanks for that - congratulations on getting in!