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  • FIRST POST
    • Sophyanne
    • By Sophyanne 6th Jul 18, 11:37 PM
    • 5Posts
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    Sophyanne
    Shared ownership - new build
    • #1
    • 6th Jul 18, 11:37 PM
    Shared ownership - new build 6th Jul 18 at 11:37 PM
    So I have a meeting tomorrow with the developers and Iím hoping to reserve the plot there and then. My question is, when will they expect me to exchange sooner rather than later if the house isnít due to be ready until March 2019?

    My broker has advised me that mortgage offers with Barclays will only be valid for 6 months so she wonít be applying on my behalf until around November 2018.

    With this in mind will I be able to reserve using my AIP and then exchange in November once Iíve received my full offer?
Page 1
    • Shellsey84
    • By Shellsey84 7th Jul 18, 12:17 AM
    • 16 Posts
    • 2 Thanks
    Shellsey84
    • #2
    • 7th Jul 18, 12:17 AM
    • #2
    • 7th Jul 18, 12:17 AM
    Just going through the process now. I reserved the plot with £500 but paid the housing association directly (by your title Iím assuming you are sharing with a HA?)

    My housing association then requested that exchange happen within 6 weeks. That was unrealistic so the solicitors asked for an extension but I got my mortgage straight away due to this as exchange is to happen ASAP.

    If you are doing shared ownership are you sure you can reserve directly with the developer?
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