Co Ownership newbie.

steveymp

emmah89 wrote: »

no nothing wrong with the house, apart from a little bit of modernising needed (a lick of paint and a new carpet in 2 of the bedrooms!)- price drop due to the current housing market!! is that so hard to believe?!

edited to say, turns out the sold the house almost 2 years ago, not 1!

1/3 of the price in a year is stretching it a bit far.

I look forward to next year when at that rate we will be paid to have a house in Coleraine… then again, I've been there a few times recently and it may be the only way they can move houses there :rotfl:

saverbuyer

emmah89 wrote: »

no nothing wrong with the house, apart from a little bit of modernising needed (a lick of paint and a new carpet in 2 of the bedrooms!)- price drop due to the current housing market!! is that so hard to believe?!

edited to say, turns out the sold the house almost 2 years ago, not 1!

Was it a terrace and a repo?

emmah89

steveymp wrote: »

1/3 of the price in a year is stretching it a bit far.

I look forward to next year when at that rate we will be paid to have a house in Coleraine… then again, I've been there a few times recently and it may be the only way they can move houses there :rotfl:

well, just telling you that's the difference we paid to what they sold theirs for, it may not be the norm for prices in the area- as i said, we were very lucky with the price we paid, and we now have a house we can call home, and are paying a lot less than we were when we renting.

GoFigure

Leeds Building Society pulled out of Co-Ownership lending in N.Ireland a couple of months ago, but there are more lenders in that space than Ulster Bank. It comes down to meeting lending criteria and the level of deposit you have (amongst other things) as to which lender is most suitable.
I would suggest your girlfriend focuses on getting her bad credit cleared up and that you both try to live at home if possible so that you can save a deposit if you have your hearts set on buying a house.
I'm a mortgage adviser and I meet lots of young couples who are renting, paying car loans or some other credit and can't get on the housing ladder as a result.
My advice would be -wait and save. House prices in NI are unlikely (in my opinion) to go up by much for at least the next few years and if you can sort out the bad credit and save a deposit you will potentially get a better deal on your mortgage too.

alisara

I think other banks in NI do this my bank does anyway. When in there last Halifax they asked me if I would be interested in applying for a mortgage (I near fell over with shock!) I told them yes I would and I was looking at co-ownership, and did they do this and they told me yes. So I have an appointment made with the Halifax in a few weeks time, but I am thinking of seeing a broker first.