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  • FIRST POST
    • Multicoloured_spider
    • By Multicoloured_spider 17th Mar 17, 7:05 AM
    • 1Posts
    • 0Thanks
    Multicoloured_spider
    Help to Buy Redemption
    • #1
    • 17th Mar 17, 7:05 AM
    Help to Buy Redemption 17th Mar 17 at 7:05 AM
    I'm currently trying to redeem my help to Buy loan in full by remortgaging. Target HCA own our loan.

    We've had the new mortgage approved, and I have sent all the paperwork to Target with our independent RICS approved valuation. This was 3 weeks ago and they haven't even acknowledged it yet, is this normal?
    Has anyone been through this process? How long did it all take?
Page 1
    • Natdb
    • By Natdb 13th Apr 17, 8:04 PM
    • 1 Posts
    • 0 Thanks
    Natdb
    • #2
    • 13th Apr 17, 8:04 PM
    • #2
    • 13th Apr 17, 8:04 PM
    Hey how did you get on with this? I am going through the same process and they seem bit of a night mare to deal with!
    • daman1982
    • By daman1982 18th Jul 17, 3:36 PM
    • 1 Posts
    • 0 Thanks
    daman1982
    • #3
    • 18th Jul 17, 3:36 PM
    chase them
    • #3
    • 18th Jul 17, 3:36 PM
    my valuation and rics survey was sent july 10th and i received the redemption statement back today. you have to give them evidence of when they received the info and chase them continally.

    3 weeks is way too long, they state maximum it should take them is 10 working days.
    • Vicqui83
    • By Vicqui83 1st Aug 17, 9:08 PM
    • 1 Posts
    • 0 Thanks
    Vicqui83
    • #4
    • 1st Aug 17, 9:08 PM
    • #4
    • 1st Aug 17, 9:08 PM
    Hi did you have any joy with this process as we need to start this soon and was wondering how you went about it. Did you need a solicitor?
    • dhokes
    • By dhokes 1st Aug 17, 9:52 PM
    • 121 Posts
    • 12 Thanks
    dhokes
    • #5
    • 1st Aug 17, 9:52 PM
    • #5
    • 1st Aug 17, 9:52 PM
    I'm currently trying to redeem my help to Buy loan in full by remortgaging. Target HCA own our loan.

    We've had the new mortgage approved, and I have sent all the paperwork to Target with our independent RICS approved valuation. This was 3 weeks ago and they haven't even acknowledged it yet, is this normal?
    Has anyone been through this process? How long did it all take?
    Originally posted by Multicoloured_spider
    Hey how did you get on with this? I am going through the same process and they seem bit of a night mare to deal with!
    Originally posted by Natdb
    my valuation and rics survey was sent july 10th and i received the redemption statement back today. you have to give them evidence of when they received the info and chase them continally.

    3 weeks is way too long, they state maximum it should take them is 10 working days.
    Originally posted by daman1982
    If the quality of service is very poor, you should contact them and/or the finance Ombudsman as stated on their website - http://www.myfirsthome.org.uk/contact/

    I'm considering purchasing my first home and the process of re-mortgaging/buying back equity from the government is putting me off.
    • CelticBhoy88
    • By CelticBhoy88 21st Aug 17, 9:01 AM
    • 1 Posts
    • 0 Thanks
    CelticBhoy88
    • #6
    • 21st Aug 17, 9:01 AM
    • #6
    • 21st Aug 17, 9:01 AM
    [QUOTEI'm currently trying to redeem my help to Buy loan in full by remortgaging. Target HCA own our loan.

    We've had the new mortgage approved, and I have sent all the paperwork to Target with our independent RICS approved valuation. This was 3 weeks ago and they haven't even acknowledged it yet, is this normal?
    Has anyone been through this process? How long did it all take?][/QUOTE]

    Target HCA are an absolute nightmare to deal with.

    I am coming to the end of this process, but it has delayed the sale of my house by months. They were so bad...in the time it took them to process all the information, my RICS valuation expired and I had to pay for a further desktop valuation to be done so we could complete the sale. Ridiculous! Their customer service is awful, their attitude is awful. The company is unregulated and can do whatever they want.

    Did you send your info off via post or email? If you sent it via email, you should have received an auto response saying the info had been received and they will respond in 7-10 working days.

    Have you paid your £250 admin fee?
    They will not do anything, process anything or acknowledge anything with out it!!!

    Hope you get it sorted.....
    • dhokes
    • By dhokes 21st Aug 17, 7:42 PM
    • 121 Posts
    • 12 Thanks
    dhokes
    • #7
    • 21st Aug 17, 7:42 PM
    • #7
    • 21st Aug 17, 7:42 PM
    I'm currently trying to redeem my help to Buy loan in full by remortgaging. Target HCA own our loan.

    We've had the new mortgage approved, and I have sent all the paperwork to Target with our independent RICS approved valuation. This was 3 weeks ago and they haven't even acknowledged it yet, is this normal?
    Has anyone been through this process? How long did it all take?]
    Target HCA are an absolute nightmare to deal with.

    I am coming to the end of this process, but it has delayed the sale of my house by months. They were so bad...in the time it took them to process all the information, my RICS valuation expired and I had to pay for a further desktop valuation to be done so we could complete the sale. Ridiculous! Their customer service is awful, their attitude is awful. The company is unregulated and can do whatever they want.

    Did you send your info off via post or email? If you sent it via email, you should have received an auto response saying the info had been received and they will respond in 7-10 working days.

    Have you paid your £250 admin fee?
    They will not do anything, process anything or acknowledge anything with out it!!!

    Hope you get it sorted.....
    Originally posted by CelticBhoy88
    I suggest that you complain to the finance ombudsman - http://www.financial-ombudsman.org.uk/consumer/complaints.htm
    • kamb1ng
    • By kamb1ng 3rd Jan 18, 1:46 PM
    • 52 Posts
    • 13 Thanks
    kamb1ng
    • #8
    • 3rd Jan 18, 1:46 PM
    • #8
    • 3rd Jan 18, 1:46 PM
    Hi, I just completed the Help to Buy redemption with Target. Does anyone know if I'm supposed to receive any documentation stating this fact? The Target call center doesn't have a clue.
    • gazzabboi
    • By gazzabboi 3rd Jan 18, 5:48 PM
    • 201 Posts
    • 89 Thanks
    gazzabboi
    • #9
    • 3rd Jan 18, 5:48 PM
    • #9
    • 3rd Jan 18, 5:48 PM
    How did you all get on with valuations? I have had 2 done, and they have both been very high
    • kamb1ng
    • By kamb1ng 4th Jan 18, 2:22 PM
    • 52 Posts
    • 13 Thanks
    kamb1ng
    How did you all get on with valuations? I have had 2 done, and they have both been very high
    Originally posted by gazzabboi
    Bank valuations are normally high.

    For HtB redemption, find an independent surveyor and get him/her to value your property making it clear that it's for HtB redemption purposes (not for selling). Then it'll be more reasonable. They're not like estate agents trying to value your property as high as possible.

    For example I used this guy:
    http://www.jgpropconsultants.co.uk/

    The Target team accepted his valuation with no issue.
    • kingstreet
    • By kingstreet 4th Jan 18, 2:48 PM
    • 32,640 Posts
    • 17,568 Thanks
    kingstreet
    Hi, I just completed the Help to Buy redemption with Target. Does anyone know if I'm supposed to receive any documentation stating this fact? The Target call center doesn't have a clue.
    Originally posted by kamb1ng
    Your solicitor should have handled the redemption and removal of the legal charge.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
    • dhokes
    • By dhokes 4th Jan 18, 5:51 PM
    • 121 Posts
    • 12 Thanks
    dhokes
    Bank valuations are normally high.

    For HtB redemption, find an independent surveyor and get him/her to value your property making it clear that it's for HtB redemption purposes (not for selling). Then it'll be more reasonable. They're not like estate agents trying to value your property as high as possible.

    For example I used this guy:
    http://www.jgpropconsultants.co.uk/

    The Target team accepted his valuation with no issue.
    Originally posted by kamb1ng
    If you don't mind me asking, how much did you pay for the valuation? Was it a fixed fee or a percentage of the valuation?
    • kamb1ng
    • By kamb1ng 4th Jan 18, 6:13 PM
    • 52 Posts
    • 13 Thanks
    kamb1ng
    If you don't mind me asking, how much did you pay for the valuation? Was it a fixed fee or a percentage of the valuation?
    Originally posted by dhokes
    £200 flat fee (no VAT).
    • gazzabboi
    • By gazzabboi 6th Jan 18, 5:27 PM
    • 201 Posts
    • 89 Thanks
    gazzabboi
    Mine was done with esurv, recommended by target. £270 for them to give a 30-40k overvalue. I sent them a copy of a valuation from the previous year £40k less with a different company and they still wouldn't change it
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