Hi Folks,
I've decided to look into shared ownership and have contacted my local council who have sent me the info. There is just one thing I'm not clear on (and apologies if this has already been answered) Is the process the same as if I was buying in the 'traditional' sense? ie: Bank is approached for money, bank do credit check etc etc and then say yay or nay?
or is it the council who look at your application, say yes, and then they approach the banks (as the buyer)?? I'm sorry if this is not clear....
I've decided to look into shared ownership and have contacted my local council who have sent me the info. There is just one thing I'm not clear on (and apologies if this has already been answered) Is the process the same as if I was buying in the 'traditional' sense? ie: Bank is approached for money, bank do credit check etc etc and then say yay or nay?
or is it the council who look at your application, say yes, and then they approach the banks (as the buyer)?? I'm sorry if this is not clear....