Mortgage declined by Underwriters - GUTTED!

libf

Those car insurance searches are probably only soft searches, which are visible to you but not to others, so I wouldn't worry about them.

RuthnJasper

Landofwood wrote: »

It's not "perfect" because it's shared ownership. Shared ownership is a joke.

Keep saving and buy a whole house, or rent and benefit from reduced responsibility for maintenance of the property. Shared ownership is the worst of both worlds.

Some people don't have too many options and Shared Ownership, if entered into sensibly, can make an excellent start for a person of relatively limited means.

kingstreet

sharonfrancis wrote: »

My borther is talking about buying me out of our parents house in next year

Have you established you will qualify for shared ownership while you own another property?

You might find this a sticking point.

Voyager2002

kingstreet wrote: »

Have you established you will qualify for shared ownership while you own another property?

You might find this a sticking point.

Since the OP is currently living with her parents I doubt if she owns the property! I would imagine that this is an offer of cash now in return for giving up an inheritance in the future.

Voyager2002

leveller2911 wrote: »

I agree with you but would just add that only around 5% of people who buy SO ever staircase to own 100% of the property so I think people should go into SO with the view that long term they will still be renting a percentage. Go in to it with their eyes open otherwise their is a large risk they will be disappointed.

However, they probably have greater security in their homes than do people who are renting on a Shorthold tenancy.

sharonfrancis

yes you are correct Voyager2002

sharonfrancis

thought I would give you an update... met Estate Agents advisor (he was actually a really nice chap)

He applied through Leeds - who said yes buuuut to only 65K - so I need to raise 24K.... which is pretty impossible right here right now...

so I have accepted this is not meant to be...

anyway I wanna make sure everything is in a correct manner for the next time I try...

Should I clear my 5K loan? I can... but would have to start my savings from zero. (I always thought it was more encouraging having money - always made me wanna save more)
When do "dependants" stop becoming a "issue" in terms of mortgages...
Mine are 2 and 5.... pls dont say 18 - LOL!!

libf

I'm still an issue to my parents on occasion and I'm 30... Mortgage wise it will be 18. Sorry.

Sheep

I think you may be giving up too early. Doesnt matter how 'nice and friendly' the EA advisor was. The top brokers on here all tell you to avoid EA brokers.

Why not try speaking to a completely independant whole of market broker and then at least you know that you have tried everything?

sharonfrancis

thanks Sheep - where would I find details of independent brokers? Just google local ones?