Own Home Scheme Pros and Cons

ladybird3

I would be extremley wary of going for a tracker or variable mortgage at the moment. Yes you get a low rate of interest but to be honest the co-op fixed rates are really very good-cant argue too much with 4.6% for 5 years as the base rate will almost certainly rise during that time.

I'm getting a bit fed up with the co-op to be honest. My offer was accepted 2 weeks ago and I've been super prompt with getting all the paper work back to the various people. Solicitors seen quite on top of things but I havent even had a date for the survey yet. my ID was receievd by the co-op beginning of last week but I was only assigned a caseworker yesterday. When I rang today they said they should be able to look through the stuff by the end of this week then arrange the survey so i guess im looking to 3 weeks from the offer to having the survey done
makes me a bit nervous knoowing that the funding is only guarenteed for 3 months from the offer-at least p4p have written to be confirming that has been allocated!

How long did everyone else have to wait for a survey?

rngeena

the funding is secured 3 months after the mortage is formally approved by co op. And this is normally after the survey is done. I got the first letter from PFP around middle of may saying the funding has been approved for 3 months, but the last letter from them says that it is secured from 25th of june til the next 3 months.

ladybird3 wrote: »

I would be extremley wary of going for a tracker or variable mortgage at the moment. Yes you get a low rate of interest but to be honest the co-op fixed rates are really very good-cant argue too much with 4.6% for 5 years as the base rate will almost certainly rise during that time.

I'm getting a bit fed up with the co-op to be honest. My offer was accepted 2 weeks ago and I've been super prompt with getting all the paper work back to the various people. Solicitors seen quite on top of things but I havent even had a date for the survey yet. my ID was receievd by the co-op beginning of last week but I was only assigned a caseworker yesterday. When I rang today they said they should be able to look through the stuff by the end of this week then arrange the survey so i guess im looking to 3 weeks from the offer to having the survey done
makes me a bit nervous knoowing that the funding is only guarenteed for 3 months from the offer-at least p4p have written to be confirming that has been allocated!

How long did everyone else have to wait for a survey?

rebecca410

Yeah eventually got offer from p4p so now the is a 7 day cooling off period then can arrange exchange date woahhhh, after months of phone call after phone call to co-op things are finally falling into place

hayday75

Hi
does anybody know if ownhome has a limited fund like mychoice ?
thanks

Steven.Morris7

hayday75 wrote: »

Hi
does anybody know if ownhome has a limited fund like mychoice ?
thanks

I believe so. I was told on Monday that i was one of the last to have some funds allocated in the North West... But its all Dependant on your area....

superfran_uk

hayday75 wrote: »

Hi
does anybody know if ownhome has a limited fund like mychoice ?
thanks

Yes, of course it is limited, although I personally have no idea how much there is. If you read further up, someone has posted that they were told funding in their area (north west?) is almost out.

Get the keys today... fingers crossed it will be earlier rather than later!!

superfran_uk

Haha so I just repeated what Steve said as I posted at the same time - but at least I was right!

Steven.Morris7

superfran_uk wrote: »

Haha so I just repeated what Steve said as I posted at the same time - but at least I was right!

Great minds.... Great news on the keys! Keep us posted!!

Cloister

SF, you must be busting with excitement - I take it all the funding got moved alright in the end.

Congrats on yuor imminent completion.

Cloister

I'm so Jealous!