Own Home Scheme Pros and Cons

sontoon

Well done Stresshead congratulations, I hope and pray we can be in the same situation and good to know that these things can be overturned. I have put in an appeal letter with the letter from Tescos and Bank along with current bank statements printed out etc I have faxed it over this afternoon so hopefully this will work. Its all a bit of a blur at the moment because when we rung for the original mortgage application it went through straight away no problems so obviously our credit file is good as well as the banks offering us loans and huge overdrafts.... Its just so frustrating.

Well done Mandy and thanks for the support glad I've had a holiday so am a little more chilled than I probably would've been, still want to cry though.

stampychan

Just a quick update for anyone who is waiting to be processed by OWnHome. I got onto the waiting list (which used to be 4 weeks) on 10th September, and got a phonecall today (25th) saying they are sending my offer docs out and my 1 week cooling off period has started.

They are speeding up!

Duarte_Fonseca

I had my eligibility interview booked for this morning, which began "I'm sorry but we have some bad news...".

Apparently all funding has been allocated now across the country.

All the best to those of you who have secured funding, and bad luck to those - like me - who haven't.

tek-monkey

Yeah, afraid it ran out early August round my way.

mandy_s_2

stampychan wrote: »

Just a quick update for anyone who is waiting to be processed by OWnHome. I got onto the waiting list (which used to be 4 weeks) on 10th September, and got a phonecall today (25th) saying they are sending my offer docs out and my 1 week cooling off period has started.

They are speeding up!

Wow great news, thanks for letting us know! I should go on the waiting list today...:p

millieandbeau

yey stampchan, thanks for letting us know,
I'm still hoping the co-op will spring into action they've been sitting on our valuation/survey for 3 weeks and i have phoned everyday!
Apparently it was checked over yesterday so should go to the underwriters and be done in a week (I'll hold my breath!), how long has it taken you guys from valuation to mortgage offer??

we're being threatened with loosing the house as the woman we are buying off is buying a repossession and needs to complete asap -eek! Least if p4p are speeding up there is hope!
:T

sideslipmike

Well guys, progress report on our process.

Well are cooling off period had finished tuesday just gone and finally Optima have posted out our offical docs today (friday) so all signed and returned today, so lets see how long it now takes for Optima to sort out an exchange date?? Any ideas from people who just exchanged or completed please? Congrats to Stresshead in completing there sale.

ladybird3

I exchanged a couple of weeks ago now and after sending back the docs post cooling off it all went quite quickly from what i recall-exchange definately happened within the week
I complete a week this coming thurs and cannot wait!

mandy_s_2

millieandbeau wrote: »

how long has it taken you guys from valuation to mortgage offer??

It took exactly two weeks for the valuation to mortgage offer for us. I then went on the P4P waiting list on 24th September and they have estimated that I will be waiting 2-3 weeks

zoomy

sideslipmike wrote: »

Well guys, progress report on our process.

Well are cooling off period had finished tuesday just gone and finally Optima have posted out our offical docs today (friday) so all signed and returned today, so lets see how long it now takes for Optima to sort out an exchange date?? Any ideas from people who just exchanged or completed please? Congrats to Stresshead in completing there sale.

I was at the stage you are now at on the 11th September but am still waiting for Optima to sort out a few issues before I can exchange so I guess it depends on wether you have a good or bad Optima experience!!