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

withoutatrace

Everyone has all they need but by the time Thames Valley sorted their part out it was too late to exchange and everyone had gone home so it was too late to find out exactly where we stand...we are hoping to exchange tomorrow instead- fingers crossed! The proposed completion date of 24th july is still potentially achievable if Thames Valley can make the money available within ten days- our solicitor has a copy of the email which says they can do this. I will believe it when I see it!

We are starting to think that Thames Valley has all the government funding in a high interest account and are just trying to get as much interest as possible!

withoutatrace

Phew! Finally contracts have been exchanged!

It was nearly another disaster; the people at the end of the chain didnt want to exchange today, said they weren't ready...but they were told the sale would fall through due to Thames Valley's time restrictions and they reconsidered! What a relief!

Now of course we are worrying that the money wont be through in time for completion on the 24th July...Hopefully it will all be ok from now on...

LouB06

withoutatrace wrote: »

Phew! Finally contracts have been exchanged!

It was nearly another disaster; the people at the end of the chain didnt want to exchange today, said they weren't ready...but they were told the sale would fall through due to Thames Valley's time restrictions and they reconsidered! What a relief!

Now of course we are worrying that the money wont be through in time for completion on the 24th July...Hopefully it will all be ok from now on...

Ahhh, well done!!!!! Thats great news! :T We're supposed to be exchanging on 15th July.... fingers crossed!!!!!!!!

Sandra2

Hurrah withoutatrace - really pleased for you! Hope LouB06 that you get everything sorted for the 15th too. We've been told that Friday is hopeful but more likely Monday - after withoutatrace's example perhaps Tuesday......... Glad that there is something positive at last.

withoutatrace

Promising news for a few of us- at last!

I don't think some people appreciate how important a home can be; it is much more than just bricks and mortar or an investment. I certainly wouldn't have got through these past few months without completely losing the plot or giving up completely without this forum; so many many thanks to all those who have posted or sent private messages. Some of whom have been shafted by TVH, to put it bluntly.

I will be following everyone's progress. I won't be able to post to say how completion went once internet is cut off in anticipation of the move, but will update as soon as we are reconnected. If TVH don't transfer the money in time then legally we would be responsible, but we would have a case for litigation as we have confirmation that the money will be there in an email- so it's not over yet!

lellow_lorry

Great news withoutatrace. Don't worry too much about the funding....thats now down to your solicitor/bank/Thames Valley. Anyone of the 3 that get it wrong on the day stands to sort out the mess, and any compensation that may follow ie overnight stays/storage etc if funds do not go through properly. Good luck.
I am now 11 weeks in, no survey and starting to lose patience, lets hope that my buyers pull their finger out soon.

Sandra2

Hi. Is anyone else using Phillips in Basingstoke as their solicitor for My Choice? Our buyers are - we were supposed to exchange Friday but solicitors came up with 4 more additional enquiries - we answered them today but still haven't exchanged as they haven't got back to our solicitor!! Arrgghhhh! It's not like we've not been waiting over 4 months to get this far eh?! Hope everyone else is okay - at least MF at Thames Valley says we can exchange so it's not them holding it up for once!!

withoutatrace

We had the same problem- once Thames Valley finally sorted everything out the solicitors kept coming up with silly enquiries and there were delays because they took so long to get back to each other! Very frustrating, but the end is in sight, lets hope you exchange very soon!

ChelseaDPM

We are going through Phillips in Basingstoke too. Had no real problems so far, although we are still awaiting on results from our survey, and therefor the mortgage offer.

Had a call last week from the EA saying that he had been contacted with regards to arranging the survey, which he called me to say he had held it off as he believed it was TOO EARLY! apparantly the sellers original deal had fell through, but they are actively looking at other properties. He assured us it is still an open chain and we have not heard anything direct from either solicitors. I have instructed him to arrange the survey, which hopefully will be tommorrow. Its all too stressful.

Good to hear people are slowly getting to exchange, ours must be done by 25th August at the latest.

Sandra2

Thanks for the replies chaps. We didn't exchange today because the top of the chain were unhappy with the amount of deposit. We had assumed that the TVH scheme was a deposit scheme so our buyer would have the 10% and we could pass this up the chain. What actually happens is TVH release their money on completion so there is no large deposit, instead our buyer used his stamp duty money and solicitors fees which came to around £2,500 (just over 1% of purchase price). Phillips also took ages today as they would not give our buyer the report on title until they'd seen a copy of a window guarantee and our buyer was not allowed by TVH to sign the contract until this was all sorted and seen by someone senior to be checked.
Our solicitor has spoken to the top of the chain and asked them to accept the lower deposit and they are thinking about it..........
Hopefully we will exchange tomorrow, completion is set for beginning of August.
ChelseaDPM - sorry to hear the sellers original deal has fallen through, sensible to wait for the survey as if they can't find anything and won't go into rented you don't want to pay out for the survey. Do hope they find something soon and you can get things going - very frustrating to finally know you have the money and now worry about whether you get to use it!!
Hope everyone else is doing okay!