Shared ownership single applicant but married

Lunawinterindy

Hi all,

I have had a mortgage/decision in principle sent forward to a housing association for a shared ownership property with a 10% deposit and I applied the first day the applications opened. 

My wife is pregnant and will not be working and being a stay at home mum, so I will have two dependants on my salary which has already been approved by mortgage broker as affordable. 

The applications close on Monday 22nd and I have been told it can take up to 4 weeks to get a decision - what are the HA looking at to determine who gets selected for the plot? Will the be requesting evidence of my wife not working? Requesting my pay slips? Etc etc which I have already provided to the mortgage broker. 

Thanks for the help! 

housebuyer143

Lunawinterindy said:

Hi all,

I have had a mortgage/decision in principle sent forward to a housing association for a shared ownership property with a 10% deposit and I applied the first day the applications opened. 

My wife is pregnant and will not be working and being a stay at home mum, so I will have two dependants on my salary which has already been approved by mortgage broker as affordable. 

The applications close on Monday 22nd and I have been told it can take up to 4 weeks to get a decision - what are the HA looking at to determine who gets selected for the plot? Will the be requesting evidence of my wife not working? Requesting my pay slips? Etc etc which I have already provided to the mortgage broker. 

Thanks for the help! 

When my sister did it, they wanted to ensure she met the conditions of the scheme and that she had a certain amount of disposable income after mortgage costs, rent, bills etc were deducted. I think it was £400 a month. 
It was on a first come first served basis for her, so anyone who met the criteria was offered it based on when they applied with first refusal to those who were top of the list. She applied for all the ones going and was first pick for a 3 bed 👍
Everyone does it differently though, so I'm not sure if it's going to be the same for yours.

Bookworm105

they are looking for whatever shows you meet whatever their conditions say you must meet.
we don't know what those are as they will be whatever your housing association made them to be.

Lunawinterindy

Bookworm105 said:

they are looking for whatever shows you meet whatever their conditions say you must meet.
we don't know what those are as they will be whatever your housing association made them to be.

Not very helpful… basically I want to know from the point I am now will the housing association request anymore info in order to make a decision?

housebuyer143

Lunawinterindy said:

Bookworm105 said:

they are looking for whatever shows you meet whatever their conditions say you must meet.
we don't know what those are as they will be whatever your housing association made them to be.

Not very helpful… basically I want to know from the point I am now will the housing association request anymore info in order to make a decision?

Have you seen their mortgage advisor and been accepted by them? That was a condition of my sister's but after she was accepted for the house. Ah if you haven't done that, then they very well are likely to ask you for more.

Lunawinterindy

housebuyer143 said:

Lunawinterindy said:

Bookworm105 said:

they are looking for whatever shows you meet whatever their conditions say you must meet.
we don't know what those are as they will be whatever your housing association made them to be.

Not very helpful… basically I want to know from the point I am now will the housing association request anymore info in order to make a decision?

Have you seen their mortgage advisor and been accepted by them? That was a condition of my sister's but after she was accepted for the house. Ah if you haven't done that, then they very well are likely to ask you for more.

Yes the mortgage advisor has accepted us and sent an approval for a mortgage in principle to the housing association 

Lunawinterindy

How long did it take the housing association to come back to people after submitted a mortgage in principal? Applications closed one week ago and haven’t heard anything yet