Govt Mortgage to Rent Scheme/Will it save my house?

mummytotwo_3

Just to let you know NN, we considered mrs beginnig of the year, and we were told that the decorative condition didnt matter, they looked at 3 main areas, kitchen being up to standard, windows and heating.

Angiepange

NellieNewbie wrote: »

Don't worry about sending a PM angie, as you have enough on your plate and we haven't even spoken to CAB yet, but I will shout if I think of anything else I'd like to ask about.

No worries NN, and best of luck with your CAB appt. Just to let you know, Shelter are also a good port of call and indeed my local branch seemed fairly knowledgeable too.

mummytotwo wrote: »

Just to let you know NN, we considered mrs beginnig of the year, and we were told that the decorative condition didnt matter, they looked at 3 main areas, kitchen being up to standard, windows and heating.

Hi Mummy

We have been told that once the rescue is completed they will be completely changing our boiler, tank etc as its very old. Will replace a couple of windows that aren't double glazed, some re wiring work to be carried out and some other general repairs, structural work. Our house is 120 years old !

Hope alls well with you

NellieNewbie

mummytotwo wrote: »

Just to let you know NN, we considered mrs beginnig of the year, and we were told that the decorative condition didnt matter, they looked at 3 main areas, kitchen being up to standard, windows and heating.

That is handy to know - thank you. I do wonder what it would take for a property to be turned down, as Angie was told her gas heating system would be replaced as soon as she completed the MRS process (post #122). We are in a bungalow built in the late 70s and it still has the original central heating boiler and system. Most but not all of the radiators have been replaced. The lectrics are original too. The kind of thing I was thinking about is the car port (also original from the time the house was built) and the wood surround could do with being replaced. Also, we expected to live in this house 'forever' and built an extension on the back of the single bedroom, giving us a second large living room and making the single bedroom a study with a wall bed in it. I'm not sure how this would be regarded by an estate agent and wondered if we'd have to do something about this.

NellieNewbie

I did look on the Shelter website after reading this thread and it referred me to CAB for my area, but I might ring their new homeowner helpline first.

Angiepange

NellieNewbie wrote: »

That is handy to know - thank you. I do wonder what it would take for a property to be turned down, as Angie was told her gas heating system would be replaced as soon as she completed the MRS process (post #122). We are in a bungalow built in the late 70s and it still has the original central heating boiler and system. Most but not all of the radiators have been replaced. The lectrics are original too. The kind of thing I was thinking about is the car port (also original from the time the house was built) and the wood surround could do with being replaced. Also, we expected to live in this house 'forever' and built an extension on the back of the single bedroom, giving us a second large living room and making the single bedroom a study with a wall bed in it. I'm not sure how this would be regarded by an estate agent and wondered if we'd have to do something about this.

What you might find NN is that some items in your home would be 'gifted' back to you. For example it might include electric showers, carpets, greenhouses, sheds etc. It just means that there are certain items the HA would not provide as part of the tenancy. You take full ownership and responsibility for them (i thought of your car port here potentially, but thats my opinion, not fact!)

Where this occurs and the items are safe and serviceable they will be left in the property and 'gifted' to you. When you accept the 'gifts' you tak eon ownership and full responsibility for them. In our case we were gifted all kitchen appliances and non standard kitchen units incl worktops (basically our existing kitchen is of a higher quality and standard as to what the HA would install) other items incl outside wc, a lean to etc. You are under no obligation to accept them, but theoretically if you do, you could take them with you when you move!

I would fully expect your heating system to be replaced, ours is approx 15 yrs old and that is considered to old for them! And again with the electrics, they told us most houses, unless very new properties need some type of rewiring carried out. NN the HA are able to claim all kinds of grants to carry out this type of work.

Angiepange

Well I am nervously waiting to hear news on the progress of our mortage rescue. Since our solicitor appointment nearly 2 weeks ago we have heard nothing and as have had no further correspondence from anyone. Its all rather unnerving to be honest

We have had 2 builders round, contracted by the HA to come and have a look at the repairs needed and submit their quotes to the HA. If this all completes we will have a fair amount of building work to look forward to as they aim to do all necessary repairs within 3 months of completion.

I spoke to my CAB adviser last week, who has kindly forwarded an up to date document re mortgage rescue and shortfalls. I expressed my worries that we haven't heard anything from the mortgage co yet, but he advised to wait as its probably at a delicate stage at the moment, with the offer having just gone in. I understand that, just really nervously waiting to see how they are going to approach this.

For anyone going through MRS who is not in NE and doesnt have a shortfall debt to worry about, I would have thought its all fairly plain sailing once the offer has been made from the HA. please dont let my experience put you off!!

So here I am, still sick to my stomach waiting, feel as though we cannot move forward with our lives until we know what will happen to us with the rescue. On a positive note we are now only 4 weeks away from automatic discharge .

For anyone else out there looking into mortgage rescue, I would say if you meet the criteria, seriously consider it as an option if you are in danger of being repossessed. If you are considering MRS and BR then please get professional advice from the CAB or Shelter as to how you should proceed with it.

Thanks again for all the support :A

Angie x

Angiepange

For anyone looking into the Government Mortgage Rescue scheme I have posted some links with information and up to date news.

https://forums.moneysavingexpert.com/discussion/comment/34913661#Comment_34913661

http://www.communities.gov.uk/newsstories/housing/1644034

http://www.moneysavingexpert.com/news/mortgages/2010/07/government-to-maintain-mortgage-rescue-schemes?utm_source=forum&utm_medium=sidebar&utm_campaign=box

http://www.adviceguide.org.uk/index/life/debt/mortgage_rescue_schemes.htm

dryliner1

i thought there was a few more than 34 rescues gone through.hopefully we are number 35 and 36 angie

Angiepange

dryliner1 wrote: »

i thought there was a few more than 34 rescues gone through.hopefully we are number 35 and 36 angie

Hi dryliner

The article that refers to 34 rescues is the number of households that have benefitted from the Homeowner Mortgage Support Scheme, this defers monthly mortgage interest for up to 2 years and the Govt has announced it will end in April 2011.

The Mortgage rescue, mortgage to rent option we are going through is a separate scheme. I am not sure how many have been successful now? I cant find any up to date figures but from what I can see the Govt are continuing with funding for this scheme for the forseeable future.

And yes. Lets hope we are part of those statistics everything crossed for us, eh?

confused76

hi Angie i've got everything crossed for you...the waiting must be hard, it's a big thing. lets hope the mortgage co come back asap with good news. thinking of you xxx