Own Home Scheme Pros and Cons

KoKo

I have been following this thread for a while now and am new on this site too. My interview is next week and I was wondering if anybody has been successful in finding a website other than rightmove and propertyfinder that has a list of properties for sale straight from the landlord in the west london area.

Thanks,

M x

shanqs1

I know there is a website which put you directly with the landlord, search for 121move from google. I have successfully viewed a property from that. But TBH rightmove and findaproperty are really the two biggest and most comprehensive sites.

Also, given what I have been told from P4P, the funding will be running out in the matter of 10 days, although it really depend on how many successful application will be accepted in the next couple of days. Another clue is 86% of the london funding has been used up in the past 4.5 months, you can do the math yourself...

I have just put in my mortgage application last Friday, haven't yet been confirmed the funding yet, wish all of us good luck.

KoKo wrote: »

I have been following this thread for a while now and am new on this site too. My interview is next week and I was wondering if anybody has been successful in finding a website other than rightmove and propertyfinder that has a list of properties for sale straight from the landlord in the west london area.

Thanks,

M x

ozzyozzy

shanqs1 wrote: »

I know there is a website which put you directly with the landlord, search for 121move from google. I have successfully viewed a property from that. But TBH rightmove and findaproperty are really the two biggest and most comprehensive sites.

Also, given what I have been told from P4P, the funding will be running out in the matter of 10 days, although it really depend on how many successful application will be accepted in the next couple of days. Another clue is 86% of the london funding has been used up in the past 4.5 months, you can do the math yourself...

I have just put in my mortgage application last Friday, haven't yet been confirmed the funding yet, wish all of us good luck.

Out of curiosity where do you get this data about the funding situation in London ? i.e. funding will last 10 days and statistics like '86% of London funding has been used in the past 4.5 months'. Because everytime I ask PFP about the London funding situation there is NEVER a definitive answer i.e. NO COMMENT. Where did you get this info from ??
As I am in the London area and just done phone interview and looking for property but this funding situation is an issue.

Ozzy.

tek-monkey

PFP refused point blank to be drawn into any conversation regarding funds, they would not say how much was left nor the rate it was going at. Every attempt to get such information was always met by a swift 'I am unable to answer that'.

ladybird3

Yeh I never managed to get any info out of them about funding, the only thing they told me was back in Feb wen I first went on the waiting list and I enquired about what the likelyhood of getting funding was, they said that they wouldnt be accepting people onto the waiting list unless there was enough money in the pot as it were

I got my FINAL paperwork through on friday and it went in the first post on saturday (I think this has been the only thing in my entire life that has warrented getting out of bed before 12 on a sat!!!).
Have the deposit money sitting in my account so will give the solicitors a call on monday as would love to be able to exchange by the end of the coming week
We shall see!
Playboy999 it looks like we're at exactly the same stage-fingers crossed!:beer:

shanqs1

ozzyozzy wrote: »

Out of curiosity where do you get this data about the funding situation in London ? i.e. funding will last 10 days and statistics like '86% of London funding has been used in the past 4.5 months'. Because everytime I ask PFP about the London funding situation there is NEVER a definitive answer i.e. NO COMMENT. Where did you get this info from ??
As I am in the London area and just done phone interview and looking for property but this funding situation is an issue.

Ozzy.

Hi Ozzy, I know it not likely to get funding information from P4P, as I have tried many times to get such concrete data, but always in vain; interestingly enough, the information I got was not a result of me asking, but rather an unexpected warm-hearted P4P advisor who retunning my query on detailed scenario about the rule of major work on the property (how to determine the share changes if I carryout extension etc.). This lad suggested that I shouldn't haggle too much on thoses details while the funding is draining out, and that's when he pulled out those figures. I could only choose to believe him. I thought its always good to share such insights with all those who are currently hoping to get onto the scheme.

ozzyozzy

shanqs1 wrote: »

Hi Ozzy, I know it not likely to get funding information from P4P, as I have tried many times to get such concrete data, but always in vain; interestingly enough, the information I got was not a result of me asking, but rather an unexpected warm-hearted P4P advisor who retunning my query on detailed scenario about the rule of major work on the property (how to determine the share changes if I carryout extension etc.). This lad suggested that I shouldn't haggle too much on thoses details while the funding is draining out, and that's when he pulled out those figures. I could only choose to believe him. I thought its always good to share such insights with all those who are currently hoping to get onto the scheme.

OK fair enough then, i can only hope your man at PFP is wrong, because if true i am wasting my time looking for a property. This whole thing is very frustrating as regards this london funding issue. I will call them tomorrrow to see if i can gauge some kind of answer. But as usual it will be a blank. I just dont know what to do. :rolleyes: Ozzy.

tek-monkey

Unfortunately all you can is what the rest of us did, look and hope! My area (west mids) ran out of funding the day after I sorted my mortgage, yet they'd told me there was no immediate warning bells but funding was gradually running out.

ozzyozzy

tek-monkey wrote: »

Unfortunately all you can is what the rest of us did, look and hope! My area (west mids) ran out of funding the day after I sorted my mortgage, yet they'd told me there was no immediate warning bells but funding was gradually running out.

Yes i think i will call PFP today again, i just do not want to waste my time and set myself up for a fall if funding is about to finish. What really !!!!es me off is that PFP will be well aware IF funding is literally going to finish BUT they will not tell you. Why they pretend they have no idea as to when funding will finish is nothing short of a joke. At the end of the day applicants should not be sent on wild goose chases looking for homes when funding is no longer there.:o

Ozzy

ozzyozzy

Hi Guys,

Once you have found a property and the Vendor accepts your offer and then you apply to Co-Op for a mortgage. If accepted I assume they, Co-Op, contact PFP to tell them you have a mortgage offer ? I then assume PFP send out a letter to the Apllicant offering 'secure funding' ?

My question is, how long - in terms of days -between the Co-Op offering you a mortgage and PFP securing your actual funding ?

This is an important question as I am in the London area and funding is looking low or finishing, therefore these timescales become crucial.....help as to an answer for the above would be appreciated.

Thanks - Ozzy