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MyChoice Homebuy Catalyst
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Well, we saw light at the end of a very long, dark Catalyst tunnel.
Our property information sheet was received by Catalyst in the 3rd week of March. We were told 4-5 weeks till we get the confirmation as demand is high etc. We got the verbal go-ahead for survey and such around the last week of May, but never got anything in writing. The case-worker told us that it will take 10 days to produce that letter and send it to us as it is 'busy'. Quite silly, really.
It never came.Luckily I managed to speak to someone else when my case-worker was off-sick/in a meeting/on holiday/hasn't turned up to work/ can't be bothered. She sounded put-off by learning how long this saga has lasted for, and I got that confirmation letter the very next day. No, troubles don't end.
The letter was typed by our case worker. She got all the numbers wrong which meant I had to call them a few times more to get the right numbers. One of the temps told me, I quote word by word, ' Well, then you would have to go and change your mortgage, innit ?'. I did eventually get the corrected approval letter, which had deadlines in it for various acts of mortgage procedure ( survey etc ). I had got all done quickly, sent everything to Catalyst by fax and post, awaiting their final 'go-ahead'. It came on the final week of June, allowing us to exchange. Now we have exchanged and will move in to the house soon.
We started the Catalyst process in January. It has taken a stressful 6 months and we had a baby on the way fo rmost of those months. Our son was born in June, by which time we had actually hoped to be IN the new house. Catalyst are either very naive to believe that sellers/agents will wait for 12 weeks for exchange to take place after offer is accepted, or really stupid. We were lucky, our sellers were patient and not in a hurry and their seller also waited for them. This is uncommon.
It was very difficult to speak to our Catalyst case worker. There are people there who seem to empathise with those waiting. The boss man at my IFA said that Catalyst don't care, and those who run it don't care. If it is not us, there is always some one eager to take our place in the queue. They don't communicate. I work in customer service, and believe that if a job is taking time, tell the people who are involved. But our case worker quite didn't. She was rather elusive but very sweet and polite during the rare moments of communication.
We consider ourselves lucky, we got the property and completed it, thanks to enormous patience exhibited by several involved. If you believe in this scheme, go for it, but be prepared for long, long waits in the unknown. And keep the people informed - the agent and the seller. Build a personal rapport with them, let them know that you are trying, persistent and keen. Be prepared to lose-out too. We believed this is the right choice for us, and we pulled through.
Sorry this turned out to be a long lecturish tome ! If any one has questions, I am happy to answer.0 -
I'm so glad to hear a story that ends well!! I submitted my property information sheet in March and I'm now waiting for the go ahead for exchange. Any day now I hope. Very similar story to yours. Had to wait ages, figures needed to be amended- Catalyst not caring and constant chasing!!
I've absolutely had it with it all and really hope it will be worth it. Lack of sleep, a LOT of time on hold to Catalyst and the feeling they really don't care. Had to go through the whole trauma of finding a 5% deposit at the last minute too because of the Nationwide mortgage changing!
Did things go smoothly once you'd exchanged?? Still don't feel like it'll happen.
Good tip to keep the vendors and EA informed.. I'd also suggest NEVER allow Catalyst to just log a 'call back' for you- insist on talking to someone each time..0 -
Hi, I anyone else on the reserve list? I keep being told different stories and don't know what to believe. Is anyone on the reserve list and received funds?
Not sure if there is any hope left in the scheme or is it all over?0 -
My partner and i are on the reserve list but have heard nothing?Hi, I anyone else on the reserve list? I keep being told different stories and don't know what to believe. Is anyone on the reserve list and received funds?
Not sure if there is any hope left in the scheme or is it all over?
what have you heard? is there any hope?0 -
I was told that they haven't started on the reserve list yet. So not hopefully at all, I know I near the back of the list as my application went in just before it closed. Have you heard anything?0
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Hi thats all that we have heard - apparently its goin to be a while before they start on the reserve list! They did tell us there is about 200 people on it....I was told that they haven't started on the reserve list yet. So not hopefully at all, I know I near the back of the list as my application went in just before it closed. Have you heard anything?0 -
My FA seems to think that they are finishing up the regular applications then once they have totted up how much they have left they will start on the reserve list. He told me that hopefully I should receive a letter in 7-10 days though I have no idea where he got that time scale from! I know I am right at the top of the reserve list so am keeping my fingers crossed. My vendor has already been waiting 12 weeks with no info so I have been extremely lucky with their patience.
Anyone else heard similar??0 -
I have just had a call from Catalyst (they are also emailing so check those inboxes) and have been given funding!!! They are officially working on the reserve list now as I was at the top.
Good luck to all of you still waiting, hang in there there is still funding left!!0 -
redlaura26 wrote: »I have just had a call from Catalyst (they are also emailing so check those inboxes) and have been given funding!!! They are officially working on the reserve list now as I was at the top.
Good luck to all of you still waiting, hang in there there is still funding left!!
Hi, congratulations!! Worth the wait!
I was just wonderin how you knew ure place on the reserve list?
as i have spoken to them and they said they cant tell us where we are on it?0 -
Has anyone on the reserve list heard anything as they are now looking at it!0
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