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Is it possible to start buy a house before applying the shared equity scheme?

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  • 28-01-2022 1:22am
    #1
    cheaps1234
    Registered Users Posts: 3 ✭


    I've got the mortgage approval from the bank, and also save about 15% deposit for the house. But I'll still need the shared equity scheme to buy the new house.

    I think the scheme may published in April or May. Can I start the progress to buy a new house in Feb or March (pay 10% deposit, sign contract etc.), before I actual got the scheme approval ?



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    #2
    houseyhouse
    Registered Users Posts: 686 ✭✭✭houseyhouse


    That sounds like a bad idea when you don’t know the details of the scheme. I don’t think a solicitor while let you sign a contract when you don’t have the ability to pay



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    #3
    cheaps1234
    Registered Users Posts: 3 ✭cheaps1234


    Thank you, That may be a bad idea, I think there a lot of people are waiting the scheme to buy a new house, Which will increase the price of new house. but I have no idea how the second hand house also increase like 20%. People don't have money to buy them if not help by the gov.



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