New choice home buy

Chris2685

I am really hoping I don't get that phone call

Where abouts do you live?

currynchips

We have been approved by TVHA, under keyworker and openmarket, and found a house etc, got all the way through the step-by-step guide. Have sent the sales info sheet to TVHA, and today asked when a person would be allocated to our case.
They generally don't have a clue. In the past month we rang them 3 times to ask if funds were available - oh yes, loads loads, without asking for any of our details. Ringing today, they said there may be a little funding left in the Hampshire area.
IFA tells us we have to keep persisting with them as many people seem to be pulling their hair out with TVHA. They say they have a heavy caseload currently, well do I care? You aren't paid to put your feet up are you?

PS, key workers have a ceiling to what they can earn. As a nurse, my gf will only earn up to £27k in the next 5 years. As a teacher, I will only earn up to £36k in total. None key workers can earn anything they want, and are without the particular needs to society that key workers have. This is why they are priority.

Chris2685

Just been on the phone to catlyst again.. They're no better... I have been told 3 times now that the person assigned to our case will ring us back... 3 days since my girlfriend rang for the first time!

CHARDONNAY_3

We were accepted on to ownhome scheme, but were rejected by the co-op for the mortgage.

We then got a letter from mychoice homebuy inviting us for financial assessment. Called to arrange an appointment for tomorrow at 6pm. Then got a call back from advisor to say he would have to reschedule for 2 weeks time as he is going on hols! Bit worried now that there will be no funding left.

Maseillo

CHARDONNAY wrote: »

We were accepted on to ownhome scheme, but were rejected by the co-op for the mortgage.

We then got a letter from mychoice homebuy inviting us for financial assessment. Called to arrange an appointment for tomorrow at 6pm. Then got a call back from advisor to say he would have to reschedule for 2 weeks time as he is going on hols! Bit worried now that there will be no funding left.

Oooh! That's harsh - did they say why they turned you down for the mortgage? This is what worries me - we both have been over our overdraft limits a few times and I forgot to pay my credit card bill on two occasions - all sorted out and in a better position now - but only very very recently. I'm not sure if co-op will give us a mortgage because of this. I'm worried that it will take a while for our better position to show through on our credit rating!

Good luck with the mychoice though!

SJ x

CHARDONNAY_3

We asked the co-op why they had declined the application and they said it was due to my partners missed payments. He got a credit card when he was 18 and was a bit careless. When he couldn't afford it, he missed payments (only 2 or 3 months) then his mum bailed him out before it went any further.

That was almost 7 years ago and the only discrepancy on either of our files, so it does seem a bit harsh! When I mentioned this to the advisor, she said it would have gone through fine last summer but their criteria has tightened massively due to credit crunch! Bloody marvellous, house prices start to come down but no chance of getting a mortgage.

Maseillo

Blimey that's really harsh!! I can't believe that stopped your application going through. I'm pretty much thinking that we have very little chance of being accepted now. Also - I have got a new job which starts on 3rd September - so when we apply I'll only have been in my job a couple of weeks (earning peanuts now but will be on much higher wage then). Other factor is that its maternity cover till May - could be permentant if the postholder doesn't return though. But I'm guessing that they won't like this either. I mean no job is 100% secure - I could be in a permenant job and lose it in May, you just never know. At least I have a lot of notice to find something else!

Hmmm... I'll be really quite gutted if we don't get accepted too. Wish we didn't have to wait for another month before we find out!

SJ x

CHARDONNAY_3

As awful as it sounds, based on my experience, maseillo, it looks unlikely that you'll be accepted on the basis of what you have said.

I currently work for the NHS (admin, not key worker) on a 12 month contract, so they wouldn't even consider my income, only my partner's.

The advisor I spoke to almost laughed in my face when I asked why not. Felt like saying my job (even on a contract) is prob more secure than yours - there is always going to be a need for patients hospital records, but for co-op mortgage telephone advisors the need seems increasingly less!

I really do wish you good luck, but it might be worth looking at plan B.

Maseillo

I think you are probably right Chardonnay! Might give the Co-op a call tomorrow and see what they say. At least then I'll know for sure. It does feel really unfair doesn't it!! Oh well...

crunchy_with_ketchup

Having been in rented accommodation for 6 years we took up an offer of a shared ownership scheme on a new house earlier this year. Not keen on new houses but swallowed my pride. Many delays ensued. When we finally got to see the house (a large of money down the road) it was ridiculously small (we had expected small but this was not feasible for us at all) and we had to pull out.

Fortunately we had been accepted onto Mychoice Homebuy scheme, great we thought. Have spent several weeks looking at properties, made 2 calls to make sure funds were available, put in an offer, sent off all the paperwork, and have just now received a letter saying funds are low, phone to confirm availability before making an offer. Called them (Thames Valley HA) up, no funds available at all.

I asked if the Housing Corp had withdrawn funding, they said no, it had just been heavily subscribed. What amazes me is that no-one answering the phones appears to have been told about money running out until it actually happened! What is the point of getting people to phone and check funds are available?

I just called up about the co-op scheme, and been booked in for a phone appointment to check eligibility. First available appointment? 24th October.

Can't decide whether to cry or scream.