lift open market shared equity scheme

weesie81

thanks, however i am just being realistic david at first mortgage in falkirk is a whole of market fees free broker and he just can't get near the £80k HBOS had promised us
if we went with RBS then we would need no deposit but the amount we would have after approval to make any offers with just does not match up with any house prices here.

Abcynthia

Well when you get an acceptance through do double check with HBOS whether they have applied a 5% deposit or not.
Good Luck

weesie81

thanks again, i am sure if we get approved we will give it a shot at least :rolleyes: lady at our branch said she knew of no changes... yet so fingers crossed it stays like that.

JP just remembered another name was Skipton think they are a building society,
if you have a first mortgage direct near you pop into the branch they are fees free and were very helpful to us although we only chatted on the phone as nearest office was falkirk.

jb1305

Hi, I currently have the application forms for the LIFT scheme. I've filled the easy parts in (cannot find 3 consecutive payslips however but will get onto payroll tomorrow to see if I can sort that out).

How do I obtain the three mortgage quotes? Do I speak to my bank or a company such as Your Move for advice? I'm really clueless with this and don't know what I'm meant to do. Will it cost me to get these quotes or seek advice?

Any help will be greatly appreciated.

fi_trix29

Hey all, I just wanted to ask how easy the whole process of applying is?

I was a FTB until April when my partner and I moved into a lovely house in Hamilton, but now he has decided he is bored with me and would rather be with the woman he has been cheating on me with I'm not even sure if I will be eligible for the LIFT scheme since I already own a home, but I don't want to apply until the house is sold otherwise I could end up being accepted but unable to take it up because this house isn't sold yet.

I just cant bear the thought of having to live in some crappy run down place but it's so expensive to rent on your own. I have no friends that live nearby looking for a new place and I really wouldnt want to live with strangers so sharing isn't really an option for me. A lovely house under part ownership would be just what I need to sort out this hideous mess that my ex has left behind. AAARGH!!

brit1234

weesie81 wrote: »

oh no i am so upset we were using halifax, there is no way we can have a 5% deposit that defeats the point of this scheme does it not?

So we are clear, you are complaining because you can't have a 100% mortgage. Remember it was loans like this which led to the credit crunch in the first place. A 5% deposit sounds more than fair especially as the lender risks house prices falling more than 5%.

The rest of us are forced to save 25% deposits

JEWISHPRINCESS

Why come on to this thread if you have nothing of any use to contribute?

I'm sure the OP is more than able to maintain mortgage payments without having to pay 5% deposit. After all having to find a deposit is partly defeating the purpose of the whole scheme. Why should everyone suffer just because some people have over stretched themselves with their 110% mortgages etc causing the bubble to burst?.

That's only a small part of the picture What about the greedy buy to let landlords who have inflated house prices and constantly exploit people who have no choice but to live in their overpriced and shabby properties? Would you rather we were all forced to live in private rebted accomodation? With no long term security of tenure? Lining some landlord's pocket by paying his mortgage?

I could go on and on but don't you dare jump in this thread and critisice people for simply wanting to get on the property ladder without having to pay a hefty deposit.

Abcynthia

JB

You can approach banks for quotes or use a broker. I know for a fact Your Move charge a fee of 299 pounds. A good start would be to find out what banks will accept the Lift scheme...Phone round your local branches or even better go in and speak to them.Or if you use a broker they will be able to tell you.

weesie81

thanks JP but quite frankly i won't even dignify them with an answer just bored people trying to cause arguments :rolleyes:

i have not paid for any of the quotes and i got mine through going into branch of all our local banks and building societies,some are happy to speak there and then whilst others want you to have appts with mortgage advisors.
first mortgage if you have them nearby were very helpful and seem very clued up on the lift scheme. they are whole of market and fees free.

i am not sure if you would be accepted for the scheme if you already own a house, why not ring the link homes number and ask? although good luck getting through they tend not to answer :rotfl:

jb1305

Thanks. I have contacted first mortgage and should have an appointment with them on Friday. I also contacted Your Move but the next appointment I am able to make is on Saturday 19th. I'll see what first mortgage say, but I may also go into some banks.

I know that you are to get quotes that do not affect your credit score so I was just a bit wary of how to obtain them.