Frequently Asked Questions
How long does the process take?
The scheme is proving to be incredibly popular and we are processing applications in date order.
On receipt of your application, we will be able to reply to you within 48 hours confirming whether you are 'eligible in principle' or not. This decision is made based on the information you have provided on your application form, however further investigation as to whether you are eligible will be looked into at a later date.
If you are registered for the scheme, the next stage is to invite you to speak with an Independent Financial Advisor (IFA). As the scheme is very popular we cannot guarantee when this will be. The funding is limited and will be released in batches over the next 3 years.
Having received your financial assessment we will contact you within 1 week to go through a telephone interview.
On receipt of all financial documents and your signed copy of the interview report, we will issue you the approval of eligibility within 4 days and you will be able to begin your search for a property.
It is up to you how long it will take for you to find a suitable property - you need to remember that the funding is limited and at this stage it is not allocated for you - keep in touch to ensure that funding is still available.
Having found a property, you will have 3 months in which to exchange contracts. Depending on your solicitor and the rest of the chain that you may in, the sale may go through sooner than the 3 month deadline.
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