no, its also open to key workers who have a household income of £60,000 or less along with other criteria which we meet. we are waiting on our homebuy agent to call us this week but obviously need to speak to a lender or a broker regarding the mortgage. From what ive been told, the deposit (30%) is stumped up by the government and the developer so in essence we need a 70% LTV mortgage.

Will financial association (as far as the credit score is concerned) still stand if i apply as a single applicant?

Thanks for your help,

Monica

Monica

Is the Homebuy direct scheme restricted to first time buyers? In bold is from http://www.communities.gov.uk/housing/buyingselling/ownershipschemes/homebuy/HomeBuyDirect/

The scheme is targeted at First-Time Buyers who cannot afford to buy a suitable property on the open market without assistance in the area where they live or work. This may be due to the higher cost of borrowing at present, or other factors.

You should approach an independent Mortgage broker and ask for some guidance. At the moment from what I have read, lenders are being cautious, so are applying a stricter criteria. A mortgage broker will have current experience of the market at the moment and which is the best forward with an application. More personal financial information will be required by a broker, which you may be better providing to a broker in confidence, rather than on an internet forum.

huckster

Hi all ive posted in the past regarding shared ownership mortgages however i have a query regarding any mortgage application - my husband is in a debt management plan , i have a credit card with hsbc and we have a secured loan with GE money. We have been declined credit in the past, we suspect, because of my husbands dmp and previous defaults however on checking his credit score today with experian his credit score is 900 which has baffled us a bit. (we checked with experian)

We are hoping to sell our house, clear all debt including the dmp and purchase a new property with no outstanding debt other than our new mortgage using homebuy direct as i am a nurse. On checking my score, i am named on the secured loan and have my credit card - both have no missed payments in the last 36 months so my credit score is 999.

So my question is this which would be best

a) apply in my own name for a single application in the hope that they accept me?

or

b)apply in joint names with me as the first applicant and hope they accept it based on my credit score alone with it being the higher one?

Ideally, we would clear all debt and build our rating up before planning a house move but this isnt possible at the moment.

Is it possible they have refused us based on the amount that we owe and not the dmp or defaults? My husband has been first applicant on all our applications for credit up until now.

Hope this makes sense to someone,

Monica