Own Home Scheme Pros and Cons

nig0609

Steven.Morris7 wrote: »

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

ditto. lots of chasing required, lots of to-ing and fro-ing, lots of frustration, but luckily nothing of mine went missing (apart from emails from co-op to p4p about mortgage offer).
it has helped that my solicitors have been brilliant, kept me informed all the way through, were quick to respond to questions, and explained everything clearly - went with a local one who's price was very good.

Playboy999

Could someone tell me - when your solicitor raised enquiries with the seller solicitor - how long did it take for you to receive a copy of the answers and then contracts to sign?

nig0609

Playboy999 wrote: »

Could someone tell me - when your solicitor raised enquiries with the seller solicitor - how long did it take for you to receive a copy of the answers and then contracts to sign?

To receive a formal answer in writing - a few days to a few weeks, depends on how good the vendors solicitors are (not the best in my case)

In their defence, it also depends on who the sellers solicitors need to get answers from. e.g, if they have to contact local council, it could take months.

zoomy

Got my first set of loan documents from Ownhome today :T

P4P had recieved my Co-op stuff on 10th August and the letter with the loan docs is dated 1st September.

smonib

Great news. P4P received my papers from co-op on 28 of August therefore I should also be there in about 15 days.

sideslipmike

Well done Ladybird, a glimmer of hope to the rest of us now haha and to you to nig0609 congrats on exchange.

londonIrish_5

I can't believe how long the co-op are now taking to send the final mortgage offer out to me and P4P!!!! I was told it would take maximum 1 week, then 2 weeks....and now it will be 3 weeks on Tuesday!! The longer they take then the later P4P will process it....really fed up now!

MK2773

Hi Folks, I am in UK on limited leave to remain until 2013. I am currently renting and was curious to know if anyone on the same status got an approval for homebuy direct
also would there be any exceptions on eligibility i.e. if I earn more than 60k will I still be considered...

ladybird3

The whole point of these schemes is to help people who earn BELOW 60k, if you earn above the chances are you would be in a position to save a deposit or afford to buy on the open market.

You would also need to be a permanent UK resident as I understand it

mary4kids

Finally solicitor sent us the contract and the deed to sign. He is asking £1600 deposit and I am sending it on monday. He must have just realised we have to exchange by 20th october as he sent me and vendors solicitor an email telling us if we dont we lose the funding.