Own Home Scheme Pros and Cons

superfran_uk

Steven.Morris7 wrote: »

Hi Lee!

I actually went for the 3 year tracker. Bit of a slight risk, but felt it would be safe enough for the next 3 years & the rate comes out at 2.89% which is amazing!

You are either very brave or very stupid, one of the two... we will find out in three years!

Steven.Morris7

superfran_uk wrote: »

You are either very brave or very stupid, one of the two... we will find out in three years!

i'm starting to worry i'm the stupid option. Nothings been signed yet, so i'm going to do some more research...

Right, onto the mortgage calculator.

superfran_uk

Steven.Morris7 wrote: »

i'm starting to worry i'm the stupid option. Nothings been signed yet, so i'm going to do some more research...

Right, onto the mortgage calculator.

My parents remember back to the last 'recession' and interest rates shot up toabout 17%. If you can afford to take this risk then by all means go for it... But if you can't, it's better to fix.

Our p4p funding has been sent to the solicitors but our mortgage money hasn't...starting to panic now as less than 24 hours away and co-op have never appeared very 'switched on'... Our solicitor says not to worry as he will chase them up this afternoon, but does anyone else know what their timing is like?

Steven.Morris7

superfran_uk wrote: »

Our p4p funding has been sent to the solicitors but our mortgage money hasn't...starting to panic now as less than 24 hours away and co-op have never appeared very 'switched on'... Our solicitor says not to worry as he will chase them up this afternoon, but does anyone else know what their timing is like?

Well... after finding out that the co-op forgot to inform P4P of my mortgage... i'm a little worried about them also..... I think chasing up is definately the best option!!

How long did it take them to process your documents e.g. wage slips... ?

superfran_uk

Forever - because the idiot 'case manager' neglected to say that he was going on holiday - so they sat on his desk for two weeks. This was despote me ringing up EVERY day to check they had arrived. We considered writing in a formal letter of complaint (I still have not had my payslip back) but who can be bothered... what would it actually acheive??

Steven.Morris7

superfran_uk wrote: »

Forever - because the idiot 'case manager' neglected to say that he was going on holiday - so they sat on his desk for two weeks. This was despote me ringing up EVERY day to check they had arrived.

I sent them on a before 9am delivery last thursday.. So i know for a fact they are there!

Maybe a phone call for me later too ;-)

Cloister

I'll agree that throughout this whole procedure I have had to phone to chase at every opportunity.

at one poinr the surveyors and the co op were waiting for each other to call and had I not intervened who knows how long they would have taken.

I've still not even exchanged yet, currently waiting the 7 days for pfp to send the final paperwork. This should be with us on Thursday.

SuperFran, did you sin and send back those documents straight away? it says something in the letter about waiting till your solicitor says sign them.

C

superfran_uk

Yep, I signed them and sent them off but I had already met with my solicitor by that point.

zoomy

Steven.Morris7 wrote: »

Well... after finding out that the co-op forgot to inform P4P of my mortgage... i'm a little worried about them also..... I think chasing up is definately the best option!!

How long did it take them to process your documents e.g. wage slips... ?

I've had the same problem with the co-op. Mortgage approved last Monday (22nd) and I was told they would email P4P that day. Rang P4P yesterday (29th) and they haven't heard anything from co-op :mad:

Rang co-op yesterday (my case manager on holiday so spoke to someone else) and they promised to send but I'll be chasing today!

Steven.Morris7

zoomy wrote: »

I've had the same problem with the co-op. Mortgage approved last Monday (22nd) and I was told they would email P4P that day. Rang P4P yesterday (29th) and they haven't heard anything from co-op :mad:

Rang co-op yesterday (my case manager on holiday so spoke to someone else) and they promised to send but I'll be chasing today!

I left it 4 hours before i checked with P4P! and thank god they had received it then... They then told me i was one of the last in the north west... I could have swung at the guy from the co-op... (i'm about 5 minutes drive from their call centre office!!!)