shared ownership capped at 80% and halifax mortgage

lucasmum

hi,
We are currently in the process of buying a shared ownership house but because it is in a rural setting where SO are few and far between we are capped at only being able to buy 80%. This doesn't worry us but our solicitor has had to go back to halifax and let them know this. Does anyone know if this is likely to be a problem, aparently it has to go through the valuation department again which worries me slightly. We have already had our mortgage offer etc.
Thanks for any advise

maccp

my hubby and I currently in the process of purchasing a shared ownership rural property with many ups and down along the way (hubby posted a few times and rambled and whinged) but the one easy process we did have was sorting our shared ownership mortgage, we have gone with nationwide and it is also capped at 80% and this has not posed any problem.

Good luck.:beer:

lucasmum

Thanks, that gives me some hope. The whole process has been a nightmare. We were told that we had got the house on the 9th jan and 8-12 weeks max we should be in and here we are with no end in sight!!

Hope everything goes well with your move. Becky

maccp

The usual house buying process is a nightmare but when you throw shared ownership into the mix it can be a bumpy ride but what I keep focasing on is the ability to be able to live in brand new house in a rural/peaceful location at an affordable price. This all started for us back in August last year and here we are in April:mad: but I think the end is in sight just waiting on our buyers to get there mortgage offer this week(3rd time long story) then we can exchange and be complete by end of May:j .

Julie