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House Price Crash Forum

First Time Buyers Schemes - No Funding Left

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I was willing to take a punt on my first house using the Ownhome scheme. ( I know a lot of you Bears may think I'm crazy for having such thoughts but since they were willing to take 40% of the falls, it would have worked out about the same cost as renting).

After having been accepted, I've just got a letter saying that all the funding has been allocated for the financial year! They only got their last lot of funding in April! So it seems that that must have been what has been propping up the market in recent months in a fairly major way. There must be only one way the market can go now...

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