Own Home Scheme Pros and Cons

Playboy999

ladybird3 - we are thinking of using Optima Legal for the legal side of things as our local solicitors won't make a decision on weather to act for us until they have received the documentation from P4P. We had our funding confirmed yesterday and there is a letter for us to give to the solicitors but they won't accept that! Just wondering if it would be best to us Optima Legal seen as they are familiar with the Ownhome scheme!

ladybird3

well the co-op said to me that at optima legal they have a specific team who deal with ownhome so they know exactly what they're doing, personally i dont mind pay slightly over the odds for that if i know it will reduce any hiccups or delays caused by a solicitor who has no idea on how the scheme works
so far they have been very quick with everything and have an online tracking system aswell so you can see exactly where they're up to with your case, no complaints as yet!
Had a nice email from my estate egent saying not to worry about anything as delays are normal etc etc, fingers crossed!

Holly_87

tek-monkey wrote: »

So do you stay on the list for next april? Or do you need to apply again?

we stay on the list, but there's a chance they won't get the funding.

tek-monkey

Holly_87 wrote: »

we stay on the list, but there's a chance they won't get the funding.

I presume you're still in front of anyone who applies next april though?

Playboy999

ladybird3 wrote: »

well the co-op said to me that at optima legal they have a specific team who deal with ownhome so they know exactly what they're doing, personally i dont mind pay slightly over the odds for that if i know it will reduce any hiccups or delays caused by a solicitor who has no idea on how the scheme works
so far they have been very quick with everything and have an online tracking system aswell so you can see exactly where they're up to with your case, no complaints as yet!
Had a nice email from my estate egent saying not to worry about anything as delays are normal etc etc, fingers crossed!

Thanks for that ladybird3. I have had a nice chat with Co-op re: Optima Legal and have had a quote which we are happy with! I am re-assured now as i would prefer to deal with a Solicitor that is familar with this scheme! The online tracking sounds great - sometimes its awkward having to ring and chase them so just loggin online will be far more conveniant.

ozzyozzy

Hi Guys,

I just want to say i am new to this Ownhome thread, and have been following it for at least 2 months now - and I must say its all been very interesting ! I have learnt a lot about the scheme from everyones personal experiences

I applied at the beginning of May and like most people was told by PFP that there was about an 8 week wait, so in theory I should be getting a letter from them now - But i thinks not !! From what you guys are saying there can be a 16 week wait - not good. Out of curiosity I called PFP to tell them i was in the London area and whether I was still on track for the 8 week wait - oh yes said the man....but somehow i doubt it :eek:
But my real worry is that if I do have to wait till say september for the letter, that actual Funding runs out - this will be a disaster for me, thats why i am posting this thread as someone just mentioned that funding in the NW had run out.

I am in London and can only hope that this dosent occur down here, who knows...no one except the man upstairs I guess I should call PFP in a few weeks time again if I still havent received my letter.

Take care all of you and sorry to waffle over in N London :j Ozzy.

ladybird3

Hey ozzy
good luck! I'm also in north london and it has been a looooong wait but you never know it may end up being shorter for you-when you do have your interview make sure you find a property fast!

ozzyozzy

ladybird,

yes glad to hear someone in this part of town! And i certainly will heed your advice as regards looking for a property as soon as Ownhome interview is complete....

Ozzy

zoomy

Holly_87 wrote: »

Hi everyone. Just thought I'd let anyone who's applying in the north west know that they deffinately have run out of funding. I finaly had my phone interview today after applying in march. I was told that i was eligable, but all they could do was put me on a waiting list in case anyone drops out. She said they might have funding for the area again next april.

Bad luck Holly:(, fingers crossed for you for next year

I really must have just squeaked through!

Cloister

Well, we have an appt on monday to see our solicitor to sign a load of docs, I think it'll be signing contracts and yesterday sent back to PfP the signed deed, so hopefully soon we'll get some dates!

It just can't happen fast enough. For us when we were waiting for our phone interview it wasn't so bad anyway because we weren't counting our chickens because we had a fair amount of debt, but since we found somewhere and are champing at the bit to get moved in it seems to have taken ages.

For those who haven't read all of the thread we applied at the end of January to Homebuy and then got referred on to PfP and co-op.

sorry to those who have missed out on funding, you never know some people might pull out or have problems so you could still get in this year....