Co-ownership

A question about : Co-ownership

Hi there

Just wondered if anyone had any experience of co-ownership and their turnaround time for applications?

Thanks

Best answers:

• I applied just under 2yrs ago. I applied, had my interview and was approved within 2 weeks.
  Just make sure all paperwork is correct and there before you apply.
• Def better to provide them with to much than to little. We were worried about the interview but there was no need to be. It's very informal and it's just to check details and ask any questions etc. We were told we were accepted on the day and got it in writing a few days later.
  Good luck!!
• Yep fairly simple. Before we even applied to Co Ownership our mortgage advisor had already checked with Progressive that we would get the mortgage so as long as the Co Ownership was accepted we knew we would get the mortgage.
• I went to Ulster Bank on Wednesday and they did an initial affordability assessment and said it all looked fine
  Paid my co-ownership fee yesterday, and they've booked my appointment for next Friday. Hopefully they will have done the valuation by then so we can find out pretty quickly.
  Thanks again
• My mortgage advisor told me if your invited for interview, it's been granted,it's just an informal interview. I'll be applying in the next few weeks hopefully.
• We are also applying in the next few months, be good to hear any advice and how you got on
• HI
  I am going to apply for co ownership this year. However wondering how you work out whats the max amount you can apply for etc. Many thanks for any help at all.
• Everything you need is on their website
  Calculators - click the different tabs
  https://www.co-ownership.org/help-an...rs/repayments/
  Downloads page has the application form and info booklet which tells you all the criteria and what is needed
  https://www.co-ownership.org/help-and-tools/downloads/
• Aweecuppatea, that is quick. I hope ours is as quick.
  Good luck x
• Im assuming everyone that's applied has had debt under 5k? Do you know if it has to much lower that 5 or as long as its less?
  Thanks
• As long as its less it is fine.
  Ј4999.99 would be fine........
  obviously the lower the better tho!
• Thanks, we already have the offer in principle from Halifax so Id imagine that will help as well?
• ~As long as you are under Ј5k debt i dont see it being a problem.
  If you are over Ј5k you dont meet the creiteria.
• Yes will also be under the 5k
• Hi all,
  Just to update, had my co-ownership appointment this morning, I felt like I could throw up I was so nervous, but I needn't have been, it was all fine.
  The guy just basically double checked the information I had put on the application form, went through the valuation which had come back already and was fine!, and also just explained the scheme in more detail i.e. the rent, purchasing further shares in the future etc
  He told me I was approved there & then The only slight issue was that the solicitor I want to use isn't on their panel (well he thinks he isn't but is double checking) which doesn't mean I can't use him, just means there will me 3 solicitors involved, mine, the vendors and co-ownerships. It also means they'll refund me Ј210 of the Ј250 application fee on completion, as my solicitor will be charging separately for what that would have covered.
  The offer letter should be out to me next week and then I can get into Ulster Bank
  Such a relief to get over the first hurdle!
• Good to hear congrats! What share have you gone for? Did they ask for proof of deposit at all?