Own Home Scheme Pros and Cons

tek-monkey

ladybird3 wrote: »

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.

Had 2 calls today, solicitor saying she's concerned about drainage and then Co-Op saying they can't agree the mortgage until I have a proper drain check done. Bah! Still, better to find out now.

Congrats to you though

shanqs1

Hi, a question regarding fees: I have been quoted a list of fees from my solicitor, as I have zero knowledge on them, please can anyone tell me whether these are normal?

Solicitor fee £624
Mortgage fee £125
Bank Transfer fee £30
Stamp Duty Land Tax Form £50
above are VATable, at £124.35, which then bring the total to £953.35

after that, there are:
Environmental search £35
Priority land registry search £3
Bankruptcy search £2
H.M. Land Registry Fee £280
and Stamp Duty as it should be.

N.B. this is not Optima, but a local solicitor who claimed that they are familiar with this scheme.

thanks in advance

ladybird3

Well it's official! Exchanged has just happened and I get the keys on October 8th:rotfl:

5 weeks to wait until I can move due to the vendor having to leave his job first but hey ho I dont really care now!

Been a bit of a slog but got there in the end-there is hope to everyone who is just going through the whole process, it happens eventually!:j

zoomy

Congrats Ladybird:beer:

nig0609

Well done Ladybird!!

Hopefully I will be exchanging today/tomorrow. Agreed completion of the 18th. P4p allowed a completion date of the 11th if i exchanged today (6 working days), but sellers wanted the 18th which is fine as I have a month's notice on the rented place.

ladybird3

well done nig!! im very envious of you exchanging on the 18th-the 11th was the date that i wanted but the vendor couldnt do

Heres to having a new home!:beer:

Playboy999

ladybird3 wrote: »

Well it's official! Exchanged has just happened and I get the keys on October 8th:rotfl:

5 weeks to wait until I can move due to the vendor having to leave his job first but hey ho I dont really care now!

Been a bit of a slog but got there in the end-there is hope to everyone who is just going through the whole process, it happens eventually!:j

Congratulations Ladybird!!!!!!!!!!!!!!!

As soon as the enquiries rasied by our solicitor are answered we should be able to exchange - don't know how long its going to be though.

Steven.Morris7

Hi.. After some a bit of Silence.. my solicitor suddenly pops up to let me know that i have exchanged today! (Note i didn't use optima).

Right, my story.

• January - Called P4P to get on the List
• 31st May - Got my letter through to arrange a eligibility interview
• 10th June - Completed the interview, began the house hunt!
• 27th June - Big Accepted & Mortgage Approved Pending Wage Slips / P60's
• 7th July - Homebuyers Report received, Damp Found... ahhh!
• 13th July - Specialist Damn report sorted
• 24th July - Mortgage offer received from Co-Op
• 20th August - 7 Calender days worth of Cooling off period begins for P4P!
• 1st September - P4P loan document signed and sent to my solicitors
• 3rd September - Exchanged contracts with a view to complete on....

Friday 11th September! I make that 11 weeks turn around from Bid Accepted to getting the keys... touch wood!

I feel exhausted just by typing that all out!

stresshead70

well done ladybird, steven and nig :T its good to hear that people are getting somewhere, cos sometimes it feels as though it will never happen. Things haven't run so smoothly for us, the paperwork and cheque which were sent to PFP have somehow vanished, so just posted again today, plus we've been held up by having to get my son to sign a waiver but once thats sorted we shouldn't be far behind. I can't wait till its all over and done with though, its such a long complicated process!

Steven.Morris7

stresshead70 wrote: »

well done ladybird, steven and nig :T its good to hear that people are getting somewhere, cos sometimes it feels as though it will never happen. Things haven't run so smoothly for us, the paperwork and cheque which were sent to PFP have somehow vanished, so just posted again today, plus we've been held up by having to get my son to sign a waiver but once thats sorted we shouldn't be far behind. I can't wait till its all over and done with though, its such a long complicated process!

Oh it was no way smooth... TRUST ME... i missed out a lot of the stress and chasing in my summary...