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Superted187

No Open Market Homebuy Schemes Left In The S.e

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Here's my story. My OH is a Teacher (Key worker). We are both first time buyers, and have a combined income of less than £60k.

We were planning on buying a property with the governments Open Market Homebuy, where you essentially get a low interest loan to cover your deposit, and we qualify.

I've phoned up the Co-Op Bank, as well as the local Government homebuy agent and both have told me that they aren't taking on any new applications until the next financial year - APRIL 2010!!!!

I'm feeling a bit deflated now as it really was a part of our plans. Oh well. :(

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Here's my story. My OH is a Teacher (Key worker). We are both first time buyers, and have a combined income of less than £60k.

We were planning on buying a property with the governments Open Market Homebuy, where you essentially get a low interest loan to cover your deposit, and we qualify.

I've phoned up the Co-Op Bank, as well as the local Government homebuy agent and both have told me that they aren't taking on any new applications until the next financial year - APRIL 2010!!!!

I'm feeling a bit deflated now as it really was a part of our plans. Oh well. :(

dear twin. grow some balls and sit it out. if you need handouts/schemes to buy you can't afford it. The fact that someone with your income can't afford it is why prices must fall. have faith ;)

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Nice username ;)

I do see your point - infact that was my standpoint until a few of my colleagues were about to secure part buys and part rents (using this scheme), and it has worked for them.

Anyway I found a source for my original post:

http://www.guardian.co.uk/money/2009/jun/2...nding-shortfall

Looks like it has caused a bit of a shitstorm across the board, for buyers and sellers, and anyone that was part of a chain that involved one of these buyers

Edited by Superted187

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Here's my story. My OH is a Teacher (Key worker). We are both first time buyers, and have a combined income of less than £60k.

We were planning on buying a property with the governments Open Market Homebuy, where you essentially get a low interest loan to cover your deposit, and we qualify.

I've phoned up the Co-Op Bank, as well as the local Government homebuy agent and both have told me that they aren't taking on any new applications until the next financial year - APRIL 2010!!!!

I'm feeling a bit deflated now as it really was a part of our plans. Oh well. :(

Surely you should be grateful? Well, you will be I predict. Why the rush/keenness to sign yourselves up to a load of debt?

If people like you can't afford it, by definition it is too expensive. End of. All you need is patience.

By the way, I hate the term "keyworker" (Not having a go at you). When it comes down to it, few people are not "key". Binmen, road menders, insurance clerks, girls on the till at tescos, people who fill the cash machines, pack ready meals... well you get the point. <_< What they mean is "public sector people likely to vote Labour"

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By the way, I hate the term "keyworker" (Not having a go at you). When it comes down to it, few people are not "key". Binmen, road menders, insurance clerks, girls on the till at tescos, people who fill the cash machines, pack ready meals... well you get the point. <_<

Absolutely. In a complex society like ours, a huge number of jobs are "key" in that crisis would soon ensue if the workers suddenly disappeared. The government list is strangely arbitrary and seems entirely political.

I'll see your binmen and raise you lorry drivers and dock workers.

Edited by Selling up

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Raised the question of the demand end of the bubble (on the residential side) being largely a result of financial knuckle headed public sector types living off the taxpayer teat. Actually, looking at the number of MP's and personal experience of public sector acquaintances the same can be said for the BTL mob.

As a group they are the only ones in the vast numbers required that are confident enough to cushioned from economic reality of the situation in the UK to behave in such an idiotic way.

Not a personal attack on the original poster, just an observation that over time has been nothing but reinforced since I first aired it.

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