Co-ownership

leemuddywaters

Ah ok we are going 50/50 but have 15k deposit, will be applying within the next week so fingers crossed - did u find the whole thing easy enough?

AWeeCuppaTea

So far it has been. It's 2 weeks today since I dropped in the application, so from that to being approved is really quick.

The only issue so far is the solicitor stuff which may hold up my offer letter a bit until we sort out who I'll be using, meaning I can't get started with the mortgage application yet. Hopefully get that sorted next week though, and so far that's been the only issue so can't complain too much!

Hopefully Ulster Bank will be straightforward enough as well, so far they've already asked for more than co-ownership did and I haven't even started the full application yet

Wish I could fast forward a few weeks! It's all the waiting/not knowing that's killing me lol.

leemuddywaters

Yeah I can imagine, were going for a new build so had to have an agreement in principle from the Halifax to book the site - I'm not sure how all that will work as he house won't be completed until September, hoping the AIP will help the co-own application and having a deposit as well, been renting for years be good to finally get on the ladder

tommie

leemuddywaters wrote: »

be good to finally get on the ladder

this `ladder` is a complete myth - ask those who bought in 2007,

be careful what you wish for...

Ticked

tommie wrote: »

this `ladder` is a complete myth - ask those who bought in 2007,

be careful what you wish for...

Maybe the term 'property snake' applies!

leemuddywaters

Well after years of renting and multiple terrible landlords also not being able to make any changes to a house we'll take our chances

qwert_yuiop

One thing you can be sure of - it's a better time to buy than 2007.

Ticked

leemuddywaters wrote: »

Well after years of renting and multiple terrible landlords also not being able to make any changes to a house we'll take our chances

Good for you! We took the chance and bought, it was rough at times to scrape the mortgage up each month, but we persevered and have never regretted it. Now retired, sitting pretty, only the usual outgoings each month, no rent to pay. Go for it!

AWeeCuppaTea

Well solicitor business all sorted, and got confirmation text today that it's all approved. Just waiting for the letter to come through the post now. Should only be a couple of days so I'm making an appointment to get into Ulster Bank on Thursday.

So that's just over 2 weeks for offer from Co-Ownership, I was expecting much longer!

I know what you mean leemuddywaters, I can't wait to be paying someone else's mortgage anymore!

leemuddywaters

Wow that's quick, great to hear - we will actually be paying less a month, been renting for six years and when we work out what we've paid off someone else's mortgage its crazy.


Praying ours goes through ok, keep us posted how u get on!