Co-ownership

chrisross22

Everything you need is on their website

Calculators - click the different tabs
https://www.co-ownership.org/help-and-tools/calculators/repayments/

Downloads page has the application form and info booklet which tells you all the criteria and what is needed
https://www.co-ownership.org/help-and-tools/downloads/

Oliviasmom

Aweecuppatea, that is quick. I hope ours is as quick.

Good luck x

Muddyball

Im assuming everyone that's applied has had debt under 5k? Do you know if it has to much lower that 5 or as long as its less?


Thanks

chrisross22

As long as its less it is fine.

£4999.99 would be fine........

obviously the lower the better tho!

Muddyball

Thanks, we already have the offer in principle from Halifax so Id imagine that will help as well?

chrisross22

~As long as you are under £5k debt i dont see it being a problem.

If you are over £5k you dont meet the creiteria.

Muddyball

Yes will also be under the 5k

AWeeCuppaTea

Hi all,

Just to update, had my co-ownership appointment this morning, I felt like I could throw up I was so nervous, but I needn't have been, it was all fine.

The guy just basically double checked the information I had put on the application form, went through the valuation which had come back already and was fine!, and also just explained the scheme in more detail i.e. the rent, purchasing further shares in the future etc

He told me I was approved there & then :j The only slight issue was that the solicitor I want to use isn't on their panel (well he thinks he isn't but is double checking) which doesn't mean I can't use him, just means there will me 3 solicitors involved, mine, the vendors and co-ownerships. It also means they'll refund me £210 of the £250 application fee on completion, as my solicitor will be charging separately for what that would have covered.

The offer letter should be out to me next week and then I can get into Ulster Bank

Such a relief to get over the first hurdle!

leemuddywaters

Good to hear congrats! What share have you gone for? Did they ask for proof of deposit at all?

AWeeCuppaTea

leemuddywaters wrote: »

Good to hear congrats! What share have you gone for? Did they ask for proof of deposit at all?

I've gone for 50/50, and then because I'm going with Ulster Bank I don't need any deposit. They did ask for statements of my savings though, as it needs to be less than £5k, same as debt