Own Home Scheme Pros and Cons

Miss_26

Im getting a Stat Dec from the solicitor today and faxing over to underwriters to say that i have no dealings with linked address. Co-op said they will accept this but wont make a final offer (until its removed of report) but will be able to secure funding in the meantime. I have since contacted Experian who have had a message from 3G who made the link and have said they can delete it and it should be off my report within 24 hours. Thank goodness! Fingers crossed as I know W. Mids funding is running low!!

ladybird3

waiting waiting waiting.. . . . . . . !

will have been waiting 3 weeks this week for the P4P documentation to come through, solicitors have said that is all they're waiting for

not sure whether to ring them or not but now im a bit worried given previous messages about letters being duplicated etc! has anyone else had this happen to them?

tek-monkey

I'm also in west mids, and was told that although funding is tight that alarm bells are not yet ringing. Hopefully you'll be OK

To anyone who's been through this scheme, I need advice on solicitors. There is a very good property solicitor in town, but they're not that clued up on this scheme. Obviously the people that Co-op reccomend know the stuff, so would I be better with them? I'd prefer someone I could just walk into an office and talk to, but then I want someone that wont screw up!

Also, if I do choose someone else, what exactly do I do? I have no real paperwork yet, just the AIP. Do I just walk in and say 'can you help me buy a house please?'. I'm sure co-op said there were restrictions on who I can use, something about minimum number of partners? Thinking it'd be easier to just go with theirs.

Miss_26

Thats precisely what they said to me Tek-Monkey but that was last week. Have you spoken to them today? Im using a solicitors where my Uncle works hence why its easy for me to get a Stat Dec done. There arent restrictions I dont think, you can use who they want as long as there are least two partners who work there and they are registered with the law society.

sontoon

Well done tek-monkey, hopefully later today we'll be in the same situation today, we're waiting for an offer to be accepted. Did you ring co-op this morning then? Could do with some advise of what the procedures are and timescales, after offer accepted, if anyone knows. We're in East Anglia and when I rang on saturday to find out the situation they said this was one area that still had funding.

Ladybird - must be really frustrating for you, I think the saying is between a rock and hard place 'do you ring for peace of mind, or don't for fear of hassling' Keep positive i'm sure you'll be fine :-)

tek-monkey

I called the co-op last night, about 10 mins after my offer was accepted! They had to call back today though, as they were about to close

No idea on timescales, I only got the phone interview last Monday. This bit has gone very quick, I just need to get a solicitor, but then its the waiting game between them and P4P. I currently rent, so will need to give notice. My rent date is the 28th, so I'm expecting to move late October to be honest. Can't see it all being sorted in less than 2 months.

Kim_ftb

Miss_26 wrote: »

Im getting a Stat Dec from the solicitor today and faxing over to underwriters to say that i have no dealings with linked address. Co-op said they will accept this but wont make a final offer (until its removed of report) but will be able to secure funding in the meantime. I have since contacted Experian who have had a message from 3G who made the link and have said they can delete it and it should be off my report within 24 hours. Thank goodness! Fingers crossed as I know W. Mids funding is running low!!

Hi Miss_26, I think I have been in almost the exact same situation as you. The mortgage offer was first declined, and I was told to contact Experian and appeal. So I contacted them and they said there was a default on my account put there by 3G for an unpaid bill. I've had absolute war with 3G (horrible people!!) and have sent them bank statements proving I had paid all my bills. I also asked Experian to investigate it for me. Eventually it was removed, thanks to Experian. The caseworker from 3G still doesn't know it's been removed and is still feeding us a load of rubbish!

Anyway, I sent my credit report to the underwriter, and they have now asked for my partners credit report, which we know is clear. I've posted it, but not sure when it'll reach them because of the postal strike, and their sorting office seems really slow! I dodn't know you could fax.

So I'm basically waiting to hear back from them now. I'm in London and just keeping my finger's crossed really. But this really isn't good for my health! The stress!!

tek-monkey

Miss_26 wrote: »

Thats precisely what they said to me Tek-Monkey but that was last week. Have you spoken to them today?

Just called them, funding is still in place for west mids but getting low. Not hit the 'red zone' yet, but closing in.

Steven.Morris7

tek-monkey wrote: »

I'm also in west mids, and was told that although funding is tight that alarm bells are not yet ringing. Hopefully you'll be OK

To anyone who's been through this scheme, I need advice on solicitors. There is a very good property solicitor in town, but they're not that clued up on this scheme. Obviously the people that Co-op reccomend know the stuff, so would I be better with them? I'd prefer someone I could just walk into an office and talk to, but then I want someone that wont screw up!

Also, if I do choose someone else, what exactly do I do? I have no real paperwork yet, just the AIP. Do I just walk in and say 'can you help me buy a house please?'. I'm sure co-op said there were restrictions on who I can use, something about minimum number of partners? Thinking it'd be easier to just go with theirs.

I would recommend Blakemores in Birmingham City Centre... I'm near the end of my process and they have been excellent.

Steven.Morris7

ladybird3 wrote: »

waiting waiting waiting.. . . . . . . !

will have been waiting 3 weeks this week for the P4P documentation to come through, solicitors have said that is all they're waiting for

not sure whether to ring them or not but now im a bit worried given previous messages about letters being duplicated etc! has anyone else had this happen to them?

They said it could be up to 4 weeks, so i would wait till then.... I'm in my 2nd week of waiting and i want to call them every day!! must resist!