Monday, 2 August 2021
Good news, hot off the press - in more ways than one.
You may have seen our story in the Sunday Times at the weekend. To our utter astonishment, it was the lead story in the Money section. The journalist Imogen Tew did a great job, covering the issue we referred to in our last update: that mortgage lenders would not permit us to apply any of the funds raised towards a deposit on a purchase.
Earlier today, local charity the Steve Morgan Foundation contacted us to say that they might be able to help. They were willing to transform the funds raised into a grant, together with any paperwork necessary to satisfy a lender that there were no strings attached. In addition, they have offered to help with the costs of adaptation. What a mind-blowing double offer! The funds transformation idea is great to have as an option, for when we start looking in earnest for Morgan’s home (probably in September).
And then more good news: I (Rob) have just come off the phone to Imogen. A contact at the Halifax has been in touch with her. The Halifax has reconsidered our situation in the light of her article. As a result, they are now able to confirm that the fund raising would not be barred from use as a deposit.
What a result! It is our sincere hope that other lenders will follow suit.
Practically for us, it means that once more, any funds raised can extend our reach towards the more expensive properties. So although we are not far off the “official” AHFM fundraising goal, there is no limit to the amount that can be applied to help Morgan - to help his bamboozled parents find the best home we can for Mo and his brother James: two very precious boys.
Thank you Imogen. You rock.