lift open market shared equity scheme

weesie81

HBOS told me it left a footprint and was not a full credit check if that helps any?

Good luck at first motgage on friday i found them very helpful by phone.

weesie81

just bumping wondering how everyone is getting on?

have those that were using HBOS had any luck making full mortgage applications without deposits?

Abcynthia

We have had an offer accepted on the house we want. We are going to sort out our mortgage on Friday so I will be able to report back as to the situation with HBOS.

JEWISHPRINCESS

I got my Lift Forms today so just waiting on getting my required documentation through before I can send off the pack. I noticed it required I send off a mortgage promise. Due to my husband having bad credit I applied to HBOS and was accepted! That's the good news. The bad news is that they will only lend me 50k. But still, better than nothing and I can always try another lender. Going to speak to a financial adviser in the morning who deals with lift.

Halifax told me I would be credit searched but that it wouldn't leave a "footprint" - basically other lenders wouldn't see a search had been made on my credit file.

There are a few things I'm not sure about that I will call and ask Link tommorrow before finalising the application form.

Goodluck for Friday xx

weesie81

Abcynthia wrote: »

We have had an offer accepted on the house we want. We are going to sort out our mortgage on Friday so I will be able to report back as to the situation with HBOS.

good luck for friday :T

weesie81

just bumping to see how the people with appts got on today?

Abcynthia

Well for us today has been a bit rubbish for us. Apparently the only lender who will lend to us is skipton building society because of my partners probabtion period at work and other lenders wanting a deposit on top. So we've had to go with Skipton. However....My partner and I are only 21 and I phoned my mother up to tell her the news and she has gone crazy because the offer from skipton is 3 years at 6.14 percent fixed when we wanted a tracker. Shes going loopy saying she doesn't believe that is the only way we can go so now she's coming down here from Livingston to see what we can do :think: So anyway my broker is still claiming Halifax want 5% but my mother is insisting on going into their branch tomorrow to find out. So now I don't know what to do because everything has been sent to Skipton...it's a big mess

weesie81

oh no that is a bit of a mess and the rates are on the high side tbh i was budgeting for 6% worst case scenario but hoping for 5 years fixed deal.

i will be very interested to find out what HBOS say today

will you go with skipton if you need to since you have already made an offer?

fingers crossed for you it all works out

Abcynthia

Ok so update

First of all I had it confirmed today by HBOS that yes they want a 5% deposit. This came in within the last week.If your actual application had already gone through you are protected against this. Lloyds TSB however don't at the moment so we are waiting for a phone call from them to arrange an appointment. If it comes down to it we can afford the skipton rate but its extremely high whereas today when we asked HBOS if we can put the 5% deposit down the mortgage would be a lot lower. For example...Skipton want 401 pounds a month not including insurances...but Halifax want 284 pounds a month not including insurances...and don't even get me started on the differences in the total payable!

Auzelia

the whole point of the scheme is that you dont need a deposit!

AARRRGGHHH