Nervous about Shared Ownership Application

yeah i cant complain but its killing me paying for rent each month in my house now when i could be paying off my mortgage but yeah the way i look at it is each week is a week closer. can't believe that in a few weeks I will be in my own place

Lucky hit ah no, I'm delighted to hear of people getting the approval!
Btw did you have to do interview? Did you hear anything from them in between sending in your initial app and getting approval? Did yu just get a letter saying your approved...??

I know its hard waiting for them to close the sale, believe me but all the legal end of things is a nightmare and can take forever, I was told I would get my keys at the end of next month, now ive been told its going to be another 12-14 weeks, ie 2.5 months. At the end of the day im being patient, I just returned my SO4 forms so am now waiting to hear back from them to see if they will actually offer me provisional approval.

Fingers crossed anyway, either way im trying not to think about it as if I do I'd drive myself to an early grave, im just trying to forget I even applied, that way I wont be upset if they decline me or take even longer, honestly to own your own home must be the biggest security in the world, I just want my son to have a real home, somewhere we can build memories. Just hope we get the loan off dcc.

Hi Trevor I was wondering about you! So have you heard anything at all in relation to your shared ownership app?

Hi Maxol no I didnt have to do an interview or anything. I sent in all the documentation and the next I heard from them was when they wrote to me to tell me how much I was approved for (provisional approval). When I selected my property I sent in the blue form and the next time I heard from them was after they sent an assessor out to the house to check on it and they sent me back a report from him and told me I had to get a plumber and electricion to check out the property and send in their reports. I got all this done and that was it. When I rang them the told me everything was in order and that now im looking at early august for a closing date waiting anxiously now

And wat was the rough timeframe from your original app to you approval in principle?

I just can't wait to hear!! When did you apply??

Sorry for allquestions!

i've been notified of an interview! wonder what this consists of?!

fraid i cant help you on the interview front maxol as i didnt have to do one. As far as i can remember the approval in principal just took a couple of weeks. what county council are you applying for it with? If its DCC then you could give Lisa Murphy a call, she is very helpful and unlike most them in there she actually knows what is going on!

Cool thanks erricson! Always helps to have a name! I think the interview is because I'm a local authority tenant.

ericsson, i was very simular to you when we got the go ahead on our apt, we were waiting 6 months from when we were due to move.. it all kept draggin out, another 3 weeks, all the time, we then found out there was a legal problem with the car spaces, and the fact they were not on the land register, so that all had to be changed etc... and to say we were losing out patience, but i have to say. when they handed over the keys...... that was the best feeling in the world!! We got them on a bank holiday weekend ... so very excited, got home that day from work.. on friday at 6pm, drove straight to the apt,, and guess what... they had given us and everyone else due to move in that weeknd, the wrong keys!!!!!! Needless to say.... there were alot of tears. BUT.... we decided to get an emergency locksmith out that night, and pop the lock and replace it... the security guard on duty was not impressed... but he knew better than to argue with me after the day i had... But it is the best feeling in the world to get the keys!!

Ok so now I don't have to do interview but they're looking for 2 letters of refusal from banks. This is proving hard because even thoughi may be approved in principle sure the 10% deposit is a huge stumbling block!

Some news peeps, I just received my provisional approval, just have to send back another form then the sale is going through, yay, should close by October at the latest.

Wow huge congrats Trevor!!!

Do you mind me asking howmch your approval was for and what multiple of your combined income does it represent?

I'm so happy to hear your news! Well done!

congrats trevor

They approved us for 275,000 but we only need 220,000. Our combined annual salary is 48,000. Typical salary I think, so they sent us provisional approval, then send more forms to sign and send back, I dropped them into DCC personally on Friday and they said now I wont hear anything for 5 weeks. However will take another 10 weeks to close, so im looking at the end of September before the sale closes. I dont mind really as long as im there by November, as would be magical to be in the house by Christmas Time.

I'm of the impression they give the loan for S.O. to anyone who applies, the only thing is, they only give you what you can afford, I believe thats the catch. They only called us to confirm our outgoings and so on, they are actually quite nice and helpful although the process can take a while,
brace your self for 6 month wait altogether.

Although when your getting the house, you dont mind how long you need to wait as long as you know your getting it.

How far along is your application, have you submitted it yet?

Regarding the interview, dont think its that as such, I think its basically
when you and your solicitor go to sign the forms and they explain the terms
and conditions and so on. As once you get provisional approval I think thats all the check. It would be a bit ridiculous to call people in for an interview, I mean they called me with any questions about my application so they wouldnt have anything else to ask I think. Unless they are going to
jump on me and suprise interview me... Now im scared.

Actually maxol just read your post from 25-06-2009 11:52 AM, so an interview would have been done before they gave provisional approval so guess that they wont do it now.

I believe now that I have been given provisional approval that they will contact me in 5 weeks to arrange someone to check on the home. Then hopefully the sale will close few weeks after.

If everyones in the same boat as me every week seems to be an eternity that your waiting on an answer from them, has anyone else been extremely stressed, worried, losing sleep thinking about what DCC's decision would be? I know I was because the S.O. was my only chance in the world of owning a home.

Best of luck to everyone else and their applications.

Ah thanks so much Trevor, very helpful to know! That seems like a big amount to be approved for given the combined salary so I'm really pleased to hear that. Our combined salary is exact same as yours although we do have a large car loan that I cannot clear. I'm hoping to get approval for 220k so seems like I might have a chance.

Actually just seen in your original post Trevor that you have a car loan too. Is there much outstanding on it as she seemed to give the impression on phone that our car loan would be a big factor

Trevor any news?

Need to wait 5 weeks for legal things to go through.

Hi Trevor, i would keep yourself very open to this date changing and moving to a later date. We were told 5-8 weeks originallyh and legal work can take alot longer with unexpected delays,our 5-8 weeks turned into 6 months. just be prepared. But please take into account too, i was very upset when this happened and felt like nothing was goin right and you do feel it is ruining the experience of your first buy, but as soon as you get the keys that all passes, plus take even the 5 week to be more saving time for you to get money together to make your home the best it can be.