Co-op Ownhome scheme - anyone bought this way?

[BunnyLebowski]

Hi

This is my first post on Property/DIY. I'm wondering if anyone has bought their house through this scheme with the Co-op?

Basically you buy a house with a mortgage for 60% of the value and the give you a loan for the remaining 40%. It's aimed at people who otherwise wouldn't be able to buy.

DP and I have just had an interview and have been told we are eligible and given the documentation to proceed. We're not sure we're going to.

I'm just wondering if anyone has any experience or knows anything about the scheme?

I think a lot of the big names are doing this too i.e. Wimpey etc.

Here.

I think perhaps if you google there may be discussions forums around.

Old discussion here

Very informative - thanks Fimbo

We are down to do it too - we applied last October and have now decided to wait a bit. I think it is the only way we will be able to buy TBH. Ownhome is a good one though cos you can choose the property which can be anywhere. Alot of other schemes are for particular properties. We are hoping to buy next year and hope that funds will still be available in this area then. Still looking on rightmove alot though and if the right property came along now i guess we would consider it.