Shared owner ship amd Mortgages

huskypup

Hi all, further to be being told that I wasn't eligible to apply for any of the government shared ownership schemes I had a phone call back from the Homebuy agent, to tell me I was eligible as I am treated as a special cases, ie as I am seperated I will be homeless when the house is sold.

The forms have now arrived, I am eligible to apply for both schemes the old 25% (12.5% equity loan - goverment and 12.5% lender) and also the 17.5% equity loan from the goverment. The homebut agent said if I wanted to put down that I had two jobs I can and to fill that part is as a second applicant, my furst job I earn £17500 and my second £6000, if I put the second job do you think that will hinder me getting the loan - house prices around here for a 2 bed house are £130000.

Secondly I am opting for the open market Homebuy where I choose the house, can the agent though stipulate where I buy the house, I need to buy in the village that I live as that is where I work (both jobs), house prices in the nearest town 20 miles away are slightly cheaper both it will be a false economy as I will be driving 60 miles a day some days to and from work, and will pointless working the second job, plus I don't know anyone there.

Any advice would be appreciated.

Mr_helpful

One of the few lenders with 100% shared ownership schemes is the Newbury (also quite close to Oxfordshire). You need an independent broker here as the Newbury are not on many whole of market panels and so do not show up on their systems,

mummytofour

Leeds do 100% S/O mortgages

MortgagesInc

As do Woolwich