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Own Home Scheme Pros and Cons
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Mary as far as im aware it's not you who has to book the survey?
As i understand it and has happened with me once you've sent back the signed agreement with the direct debit stuff and your ID you then get assigned a caseworker, the caseworker will then look over everything and ring you back to ask if you're happy that a valuation is instructed.
The bank then instructs the surveyors who are called countrywide, countrywide call you back farily immediately to take the payment for the homebuyers survey (just over the £500 mark). Countrywide then contact your estate agent direct to arrange the survey and also send you out some terms and conditions to sign
Perhaps you need to contact the co-op to find out who your caseworker is and whats causing the delay? I found that hassling them on a daily basis seemed to move things along-my valuation was instructed on friday which was 1 week after they receievd all my paper work and ID, and 10 days after the original offer0 -
Thanks ladybird. Yes I have a caseworker who seems to be at lunch every time I call. I called again asking I want to book the survey and they said countrywide will call me to arrange it. They called and I paid about £500. This friday it will be 4 weeks since we sent our paperwork.:mad: Caseworker sent me a letter last week to introduce himself and said he phoned but wasnt in which is a lie as I was in all day and phone memory records any calls. On the letter it was saying he will assess it in 5 to 7 days and today is the 7th day but never heard anything from him yet. Today they told me they will assess it 5 to 7 days:mad: At least sorted the survey out:beer:
Its all about chasing! I rang up the co-op and told them i would ring every morning until mine got moved the the top of the pile! Within 1hr the case worker called me & within 3 hours i had paid for the valuation! So chase chase chase!0 -
Indeed. Same here.
Our only problem is that we're in London. We are already saving for a deposit, but even if 10% is enough, it'll take about three years. And God knows how much homes will cost by then.
But, c'est la vie! We will try what we can, and if it doesn't work, it doesn't work.
I was told by the guy at the co-op that the North West ran out of funding first last time & it seems what little was given got used up quite quickly!
However he did say that some area's never actually ran out! So i think its definitely worth chasing! Also remember that 'allocated' funds could come back into the pot if people don't complete within 3 months!0 -
My partner has been having the same trouble with the Co-op. He sent his id, p60 etc back a week ago and had to ring yesterday as they hadn't been in touch to say when they are arranging for the valuation and survey to be done. He then was told they don't arrange for these to be done until he has paid the Surveyors (Countrywide) - he was never told to contact them, he thought they would contact him - they expect you to be psychic. Anyway, he paid for this over the phone (£425) and hopefully things will start to get moving now!!
You really do have to keep chasing the Co-op as they don't seem to tell you anything unless you call them - great customer service eh!0 -
When I phoned yesterday they didn't even ask where I was, they said funding had completely run out nationwide0
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Hmm, I just called and was told that funding is still available, but looking to run out any day now. Also told that the wit should be 14 weeks, and they will be running the scheme again next year. Didn't ask what area I was in.0
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Hi
Just to let you know that we bought our house in this scheme (I actually answered this thread a while ago while we were waiting for our phone interview). We waited about a month for our phone call, and from then on it went really smoothly. We got accepted, got given a reference number and then called the co-op and got accepted for the mortgage. Ownhome and the co-op were both great and our house purchase went through very smoothly and very quickly. There were no problems at all. Of course it would have been better to buy by ourselves but we just couldn't do it, so for us this was the best option. We are all settled in our new house now and couldn't be happier! Plus a few weeks after we moved, ownhome wrote to us saying they had been given some extra money and were giving grants to people who had completed their house purchase within a certain time - and promptly sent us a cheque for £1500! That was an extra surprise! Don't suppose they will still be doing that now though.
Anyway just wanted to let you know that they will call you back, and if you go ahead with it then it can go through nice and easily!
SJ x
Hi,
Well done!! Can you let me know how they limited the number of bedrooms you were allowed and how they did this? Me and my partner are both looking to have kids in the next couple of yrs and would preferably like a 3 bed house - this will prevent us moving in a few yrs and paying back 30% of the value of our home. We have our interview next week. Do they do checks on this?
Any help would be really appreciated,
Suzanne0 -
Hi,
Well done!! Can you let me know how they limited the number of bedrooms you were allowed and how they did this? Me and my partner are both looking to have kids in the next couple of yrs and would preferably like a 3 bed house - this will prevent us moving in a few yrs and paying back 30% of the value of our home. We have our interview next week. Do they do checks on this?
Any help would be really appreciated,
Suzanne
Unfortunately, you can't. Of course they do checks. Unless you want to commit fraud and ulimately have your home reposessed, just follow the rules like everyone else has to... Harsh, but I'm afraid thems the breaks.
Edit to say: By the way, you can have a child in a 2-bed house... Kids will even share. They're only small.0 -
superfran_uk wrote: »Unfortunately, you can't. Of course they do checks. Unless you want to commit fraud and ulimately have your home reposessed, just follow the rules like everyone else has to... Harsh, but I'm afraid thems the breaks.
Edit to say: By the way, you can have a child in a 2-bed house... Kids will even share. They're only small.
Hi SuperFran,
Thanks for getting back to me so quick. I was just checking.
However I must note that - yes a child can live in a room for a while and even two. However lets see we wish to move in 5 years or whenever child 3 is on the way, we would have to cough up 30% or whatever they lend me and pay another £3000 or around there in fees. We can pay back 30% over 25 yrs but not in 5. Whilst I understand why they have introduced this clause, (Government are short of cash!!!!), it also puts couples in the position of potentially creating a worse scenario for first time buyers. This scheme should be designed around the people - I am not asking for 4 bedroom detached house - the couples wishing to move into the next stage of their lives by having children should be offered a 3 bed house - it is not unreasonable and in fact very practical.
I will paste and copy the above and write to my MP.
S0 -
Well my partner and I are both mid-late 20s and would like kids, but unfortunately that's just the way it is. We will learn to cope, and if we decide to have kids in a few years they will have to share a room or we will have to move. We feel lucky to have had this opportunity however.
Not sure what you expect your MP to do but good luck with it... If I were you though, I'd look for a place that fits the criteria and do it as quickly as you can, as funding is apparently now in short supply.0
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