We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Open Market Shared Equity Scheme
whambam
Posts: 526 Forumite
Does it require a credit check?
Its designed/eligible for disabled people so can they get housing benefit for these properties?
Its designed/eligible for disabled people so can they get housing benefit for these properties?
0
Comments
-
Does it require a credit check?
Its designed/eligible for disabled people so can they get housing benefit for these properties?
If you require a mortgage then the mortgage lender will want to credit check you.
The Open Market Shared Equity Scheme aims to make you a home owner not a tenant so you would not be eligible for housing benefit.
https://www.mygov.scot/open-market-shared-equity-scheme/0 -
You may have been eligible for SMI on the mortgage interest while the scheme was a benefit, rather than a loan as it is now.
Under shared ownership, the rent payable to the registered social landlord was subject to HB/LHA for the disabled.
As suggested, any mortgage will require a status check.
This organisation helps the disabled to purchase their own home. No recommendation implied - given for information only;-
http://www.mysafehome.info/I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
is SMI only available for 24 months last I heard.0
-
kingstreet wrote: »You may have been eligible for SMI on the mortgage interest while the scheme was a benefit, rather than a loan as it is now.
Under shared ownership, the rent payable to the registered social landlord was subject to HB/LHA for the disabled.
As suggested, any mortgage will require a status check.
This organisation helps the disabled to purchase their own home. No recommendation implied - given for information only;-
http://www.mysafehome.info/
Is this for England and Wales only or UK nationwide?0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 355.2K Banking & Borrowing
- 254.7K Reduce Debt & Boost Income
- 455.8K Spending & Discounts
- 247.9K Work, Benefits & Business
- 605K Mortgages, Homes & Bills
- 178.8K Life & Family
- 262.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards