Shared Ownership -Single Applicant

victoriamullins.89

Hey!

I've noticed that although there are many threads regarding Shared Ownership, most of them relate to people applying as couples.

Has anyone had experience applying as a single applicant? I am finding it really difficult, as all the times I have put my name down for a resale property I am being out prioritised by people with higher needs i.e. people with children and couples.

I moved back in with my parents and have spent the last 2 years saving and have managed to save £18,000 but no HA will take my money or give me a house! I've been approved for mortgages and passed all the financial affordability assessments but just can't seem to catch that break.


Many thanks,
Victoria

clarefs360

I'm in the process of buying a shared ownership property as a single applicant. It is the second property that I have applied for. I didn't get the first one, which was a new build. This one is a resale flat. I don't know if I was lucky because there wasn't a lot of interest, or perhaps I was able to purchase the biggest share. The property does need a little work done and wasn't presented in the best way, which may have put some people off. I really don't know.

It sounds like you are in a good position so it may just be a matter of patience and perseverance. Good luck!

victoriamullins.89

clarefs360: Thank you for your reply. It's nice to know I'm no the only one out here trying to do this as a single applicant. It's frustrating because there aren't many resale properties going on the Help To Buy website on a weekly basis, just need to keep trying. It has to happen one day!

jack290292

Hi,
Yes my Son has bought a resale S/O, 50% share, he did have a large deposit and it took 8 months to go from offer to completion! As clarefs360 we did need to help him as it needed quite a bit doing on it but it's looking really good now and nearly complete on the decorating front.

Stick with it, we did and it was worth it.