My Experience - Thames Valley Housing Association - My Choice Homebuy Scheme

ChelseaDPM

Hello all,

Bit of an update. Our case handler, EM was due to process our application on Monday 22nd June. We waited a few days to call, allowing them the 2-3 days quoted in the brochure. Tuesday evening we were informed that because the financial assessment by our FA was carried out in 1 name (long story, but basically we were told that because my wife and i earn shy of 60k, then the minimum entitlement for us was too much for a two bed home in our area, and he used a 4 times multiplier instead of 3 so a "short cut" was used to use just one persons salary) then it would be rejected. Funny thing is i questioned the ethics of our FA at the time who was sure that this was a safe process, and i even got confirmation of this direct from TVHA.

Anyway, a fax number was provided direct to our case handler which we needed to provide the other persons financial information. The FA also had to resubmit our financial evaluation, and after a stern dressing down due to his error, he did.

It is now Friday and our case handler has finally emailed me the letter direct to me. The have recalculated the entitlement and is all agreed to proceed. We must exchange by 25th August, and complete up to 3 weeks later. It is possible though, to excellerate this process should the chain allow.

So excited now that things are finally moving.

How are others getting on?

Sandra2

ChelseaDPM wrote: »

Hello all,

Bit of an update. Our case handler, EM was due to process our application on Monday 22nd June. We waited a few days to call, allowing them the 2-3 days quoted in the brochure. Tuesday evening we were informed that because the financial assessment by our FA was carried out in 1 name (long story, but basically we were told that because my wife and i earn shy of 60k, then the minimum entitlement for us was too much for a two bed home in our area, and he used a 4 times multiplier instead of 3 so a "short cut" was used to use just one persons salary) then it would be rejected. Funny thing is i questioned the ethics of our FA at the time who was sure that this was a safe process, and i even got confirmation of this direct from TVHA.

Anyway, a fax number was provided direct to our case handler which we needed to provide the other persons financial information. The FA also had to resubmit our financial evaluation, and after a stern dressing down due to his error, he did.

It is now Friday and our case handler has finally emailed me the letter direct to me. The have recalculated the entitlement and is all agreed to proceed. We must exchange by 25th August, and complete up to 3 weeks later. It is possible though, to excellerate this process should the chain allow.

So excited now that things are finally moving.

How are others getting on?

Hi ChelseaDPM - glad you are finally hearing some good news and it's getting sorted. Just to add to your single applicant bit, we have had the contract through from our buyers who are using TV and they are only doing it in one name due to salary issues. Don't suppose your FA was a chap from Basingstoke initials SD by any chance? It was an SD who our buyers used as their IFA and he has done their application on one name only - we've checked as our solicitor said it is unusual but apparently TV know about it and it's fine. So there you go - TV seem to change the rules to suit themselves and what is okay for one person isn't for another - how ridiculous. Hope you can now instruct your survey and move from there - our buyers should have the report Monday and the people we are buying from want an exchange and completion date Tuesday..... Good also to hear that it should take 6 weeks from approval as our buyers were approved 6th June - an August move may yet be possible for us all!

Sandra2

bargain-hunter-uk wrote: »

1. probably ok, but always good to wait for the letter.
2. once approved, they expect the whole process to be completed within 6 weeks, so things will move fast.

i'd stick with it, it's certain money, but just delayed to hell, but the worst bit os over, and it should be easier now

1. An email with the pdf attachment of the letter is fine
2. So far, having been approved on 6th June we had survey on 23rd June - not sure how long it takes to get to exchange or if TV have to see the survey as well as the mortgage company and approve it - anyone know?
3. We had another offer as well but our buyers had already had their phone confirmation so we have carried on with them and so far it is progressing but we are looking at August before we can move. This is probably going to be the same for new buyers if you accepted the alternative offer so as the TV is confirmed and if they can get to survey quickly then that may be safer than the other offer as the chain there is longer. Tricky one to call though!

LouB06

Well, its been a while since I posted anything on here! Mainly because for the last 2/3 weeks since we got our letter from TVHA to proceed, it's all gone quiet!!

We applied for our mortgage straight away once we got our letter.

Now I find out that all the bank statements that were forwarded to our lender arent good enough! They need more!!!!

We were supposed to send TVHA our mortgage offer by yesterday, but clearly that wasnt going to happen if our lender had just been sat on our application, waiting for bank statements not actually telling us or anyone that they needed more!!!!!!!!!

Now TVHA have given us an extension of a week to get our mortgage offer to them.... is this even possible?????!!!!!!!!!!!??????!!!!!!:mad:

withoutatrace

If it's any help our mortgage with Halifax was sorted (compete with letter confirming offer) within 3 working days.

Now if only we could get the solicitors to get moving!!!

withoutatrace

aaaarghh, now we have found out that Thames Valley sent incorrect documentation to the solicitors! And our case worker is out of the office until tomorrow...looks like another delay!

LouB06

Dont you just hate that word.... "Delay"..... Eurgh.....

withoutatrace

Definitely sick of hearing that word! We got an email from our case worker telling us that TVH systems are down today, so correct paperwork cannot be sent to the solicitor, which means another....delay!!

Sandra2

Do we think that TVH have a stock list of delay excuses and they are going through them all one by one?!
Our buyers are sending the mortgage offer, survey and valuation today but as the systems are down nothing will happen. Again.
The people we are buying from have to tell the chap they are buying from by close of play today if they are going ahead - and we can't say a definite yes until we know what TVH will say about the paperwork they can't process.
Solicitors reckon 2 weeks to exchange from here...........

withoutatrace

well, somehow she has managed to send the direct debit mandate so maybe the system is up and running now...