Own Home Scheme Pros and Cons

nig0609

Playboy999 wrote: »

Does anyone know how long the mortgage offer from Co-op is valid for?

pretty sure it is valid for 90days / 3months - but i dont have my paperwork with me.

zoomy

londonIrish wrote: »

hi guys...has anyone reached the end of their waiting period for their final loan offer yet? i know it is meant to be about 4 weeks but there were a few posts that said its happenning in 3 weeks? does anyone know if this is right?

My final co-op offer was recieved by P4P on the 10th August and I haven't heard yet. It will be 4 weeks on Monday

Playboy999

nig0609 wrote: »

pretty sure it is valid for 90days / 3months - but i dont have my paperwork with me.

Thanks - i thought so. Ours expires around 20th Oct then, really worried we aren't going to be done it time. It's so frustrating!!!!!!!!!!

tek-monkey

Do I need to send p4p a copy of the survey?

nig0609

tek-monkey wrote: »

Do I need to send p4p a copy of the survey?

That has never even crossed my mind? As you know Co-op get the survey results, so one assumes they pass this info to p4p when they advise p4p about the mortgage offer?

I had 2 copies of the survey, one nicely bound and one stapled, with an instruction to give 1 copy to the solicitors.

tek-monkey

I had the same, but my solicitor said her previous client on this scheme had sent a copy to p4p? Dunno, she has a lot of issues with the survey anyway so will see what happens.

ladybird3

With regards to the survey it's not necessary to send a copy to P4P. In fact, if everything was ok with the valuation then you dont even need to give a copy to the solicitors, you would only need to send them one if you wished to seek advice on a particular area of the survey that there was a problem with.

The valuation is the main thing that is of concern and this automatically goes to P4P and the co-op. If this was ok and there were no or only minor problems in the survey then it does not affect the sale and you keep the survey.

Do not worry about the original date that P4P give you for the amount of time your funding is available for-they adjust it as you go along depending on how long things take!
For example, originally I was told my funding was guarenteed until sept 17th, then when I got the final mortgage docs they changed it to 3 months from the date on that letter, and most recently when I recieved the final FINAL docs after the cooling off period they said I would have to complete by late november.
So dont worry really I think as long as you've had that original funding confirmed they just change the dates as you progress.

The solicitors have confirmed they have recieved my deposit and apparently are working on my file at the moment ready for exchange-watch this space!!:T

mary4kids

Is it possible to change solicitor at that late stage. My solicitor point blank refusing to do any work until october. After vendors solicitor, me, estate agency calling him he says he is drawing the contract now. Today estate agency said to me I would change my solicitor if I were you. I am waiting phone call from him if the vendors would wait that long or deal if off.

mandy_s_2

Playboy999 wrote: »

I have to agree with you 100% there. Everytime i ring Optima they aren't very helpful and make me feel bad for ringing! Unbelievable!

I have started emailing and my queries are answered that way as i will loose my temper on the phone to them!

They have sent all paperwork out to us on time etc so i don't have a problem with them in that respect - just the customer service part!

They should have now received the final signed agreement from P4P - 2nd time lucky as Optima scribbled all over the 1st one and P4P wouldnt accept it - another week delay! We are now waiting for the queries raised with the sellers solicitor to be answered - it's been 3 weeks since they were raised - not sure how long this should take. Getting really fed up now!!

Wow I am really worried now as I opted for Optima thinking it might make this complicated process a little easier. I really hope that they dont mess me around!!!

Playboy999

mandy_s wrote: »

Wow I am really worried now as I opted for Optima thinking it might make this complicated process a little easier. I really hope that they dont mess me around!!!

Sorry to worry you Mandy - it's just my personal dealings with them! I always get my emails answered quickly so things have started to improve.