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

notfunnymoney

Angiepange wrote: »

:j:j:j

Wow great news H

Thats sounding really positive now, I am so pleased for you.

I definitely think your letter helped, got your case noticed by the sounds of it woohoo x

Thanks Angie - yeah think it did help - and got told today by CAB that it was a really well written and good letter so at least I'm doin something right, ha!! Keeping everything crossed but still can't quite let myself believe it just yet....I know it's bad but I think I'm naturally a slightly pessamistic person - would rather think the worst and then if it don't happen - bonus!! But do need to think positive too cos that all helps I reckon!! But either way it's been a little booster which was badly needed so fingers x it stays that way now....

H x

Angiepange

notfunnymoney wrote: »

Thanks Angie - yeah think it did help - and got told today by CAB that it was a really well written and good letter so at least I'm doin something right, ha!! Keeping everything crossed but still can't quite let myself believe it just yet....I know it's bad but I think I'm naturally a slightly pessamistic person - would rather think the worst and then if it don't happen - bonus!! But do need to think positive too cos that all helps I reckon!! But either way it's been a little booster which was badly needed so fingers x it stays that way now....

H x

Fingers crossed for you H

Keep us posted on your progress if you can, and really hoping you are successful with the mortgage rescue.

Angie x

notfunnymoney

Cheers Angie - will def keep you posted! Just thought of a quick question - solicitors fees, I assume we have to pay for these and if so would you know a rough figure of what that might be - just trying to work some calcs out!!x

Thanks,
Helen

Angiepange

Hi Helen

You don't pay the solicitors fees. If you accept the offer from the HA, they will provide you with a list of solicitors, (although you can use your own if you prefer) who are familiar with mortgage rescue. You choose who to instruct.

The HA will pay the solicitors for the work they do on your behalf, so you don't pay anything. Our final bill showed the HA had paid £440 in legal fees.

HTH A x

west0504

Hi again everyone, Sorry seems like I haven't been here for ages!

Update on my MR situation at the minute... Had a text message two weeks ago from the housing officer dealing with my case, asking me to contact him urgently the next day, (interesting nights sleep!)
Phoned the next day and turns out the housing association, (Orbit) had received all my documents but that the actual application form had been... whats that word i'm looking for?.. oh yeah lost! So off I went to fill out another one and hand it back to the council to PHOTOCOPY and send again.

Didn't hear anything back untill the phone went yesterday morning and it was a Surveyor asking if he could come round Monday afetrnoon?! I'm baffled? Anyone else had things done this vaguely and in this order? I haven't heard from Orbit but surely things must be positive so far if they are sending round a surveyor?

I have been told not to contact the housing association directly as apparently they dont like that and prefer to deal solely with the council! (Mr council officer told me this ) Just feel like i'm doing nothing!

Now I've been surprised by this surveyor visit as I thought that it wouldn't happening for a while. I feel like I should be getting the paintbrushes out! :rotfl:Will he be the person who values the property or is he just making a report of possible structural problems before they commit to starting the actual rescue?

Sorry for the rambled mess of a post.. far too much wine last night I think!

Thanks,
L x

dryliner1

hi we have gone through mr and we had our survey done very early on.the one thing we was told that it was a good sign that the surveyor was coming and that it was likely for the rescue to go through if everything was ok.it still took 6 mths for us to go through but that was due to having big shortfalls on mortgage and 2nd loan but finally went through 29th oct.

west0504 wrote: »

Hi again everyone, Sorry seems like I haven't been here for ages!

Update on my MR situation at the minute... Had a text message two weeks ago from the housing officer dealing with my case, asking me to contact him urgently the next day, (interesting nights sleep!)
Phoned the next day and turns out the housing association, (Orbit) had received all my documents but that the actual application form had been... whats that word i'm looking for?.. oh yeah lost! So off I went to fill out another one and hand it back to the council to PHOTOCOPY and send again.

Didn't hear anything back untill the phone went yesterday morning and it was a Surveyor asking if he could come round Monday afetrnoon?! I'm baffled? Anyone else had things done this vaguely and in this order? I haven't heard from Orbit but surely things must be positive so far if they are sending round a surveyor?

I have been told not to contact the housing association directly as apparently they dont like that and prefer to deal solely with the council! (Mr council officer told me this ) Just feel like i'm doing nothing!

Now I've been surprised by this surveyor visit as I thought that it wouldn't happening for a while. I feel like I should be getting the paintbrushes out! :rotfl:Will he be the person who values the property or is he just making a report of possible structural problems before they commit to starting the actual rescue?

Sorry for the rambled mess of a post.. far too much wine last night I think!

Thanks,
L x

Angiepange

Hi L

Good to hear your update and your experience with the council losing documents sounds a lot like what happened to me :cool:!! Unbelievable eh?!!

The fact you are having a surveyor out is really good progress, that means they are now dealing with your application and you are definitely being considered for rescue.

Moats procedure for us was to send out an independent RICS qualified surveyor to professionally value the house. Following receipt of the valuation report, they instructed a buildings/structural survey to be undertaken (in reality, we had both visits within a couple of days each other). This is to determine the cost to bring the property up to the decent home standard (in our case as the house is old, we need electrical and heating work done plus some structural work). As long as the costs of this work is financially viable then you will be considered for rescue.

Once they receive these reports they make you a fair offer for your home, what they are willing to pay for your home and the amount of rent you will have to pay them if the rescue goes through. We got contacted by Moat and went for an interview at their head office. Roughly 2 weeks later we received their formal offer notice, and you are given a minimum of 8 days to consider the offer and take independent financial advice should you wish to do so.

Obviously things may vary between housing associations, but your application is progressing, so its fingers crossed all the figures work out in your favour. I know what you mean about getting the paintbrushes out! but they dont concentrate on decor, so just have a massive tidy and clean up and you will be fine.

So good luck and anything else I can help with just shout

Angie x

west0504

Hi guys, Thank you both for that.

So these next few weeks seem quite important and now I can start worrying about something else instead of mortgage payments for a while!

I also have an old terraced house which is in a good decorative order and tidy... apart from buckets of childrens toys We smartened up the kitchen last month when we were having estate agents round to value the house, (trying to work out amount of neg equity etc) just incase MR didnt happen and so on.

But as you said not worried about this for the surveyors, more so the rather noticable DAMP problem we have in our dining room. I am hoping this will not be too much of an issue and could be easily solved. We took the wallpaper off one side of the room, up to about waist height, which makes it appear to be rising damp??? Not sure but apart from that, structuraly the building seems sound, fingers crossed! Thanks to the weather today for some terrential rain and strong winds

Other things like yourself Angie, ancient boiler, slightly interesting electics and also a few single glazed windows will probably come up. But these things seem standard to them and not such an issue. I have been keeping an eye on the Council/HA property lists and its unbelieveable how many terraced and older properties are appearing on them. I can only assume these may have also sadly come to the same situation as us.

Thanks again everyone for your advice and support, we have no one else to talk about this to, we have found no one really asks either? Although you don't want to worry friends and family either do you? But still feeling positive thanks to here x

Talk soon L x

notfunnymoney

Hi L, just wanted to say 'hi' to you as it seems you're sailing in our boat too at the mo?! We had a home visit from LA today and just need to fill out/sign some forms, drop them into the office tom and then she's sending off our pack on Friday... I'm hoping from what Angie has said, this will mean about another 3mths of RSL surveyor/valuation/interview mtgs and solicitors redtape to put an end to all this but then that's if everything is straight forward and we all know there are always little hiccups along the way, eh?! Our caseworker from the LA bought an Environmental Health officer with her who took a very informal look around our property to make sure there were no glaringly obvious faults with it before they pass over our App.... luckily there didn't seem to be apart from our boiler which is supposed be being fixed by a Warmfront grant in the next few weeks (after a 10mth wait!!) - apparently our RSL allow up to £20k worth of repairs to be done when doing mrs so I think we're well covered anyway!!

We have the slight reverse prob of the value of our property possibly being too MUCH!!! Cos when we bought the place we were in a much better financial situ and put in a nice deposit - plus the fact that when we bought 5yrs ago, the place was in desperate need of redecoration, which we did and this has increased the value.... luckily for us house prices are on a downturn so this should mean all will be ok but it's still just a little something in the background niggling away until the RSL have done their own valuation - even tho our caseworker at LA is more than confident that we'll be ok....

We are the first in our borough to be doing mrs (most property's in our area would be much to high a value hence us being first!!) so there have been teething probs but I know this isn't the first one for the RSL so hopefully they'll be a bit quicker!!

Ohhhhhhh I just need this all to get going and hopefully finish the way we've dreamed about so I can breathe out again....!!!!

H x

notfunnymoney

Angiepange wrote: »

Hi Helen

You don't pay the solicitors fees. If you accept the offer from the HA, they will provide you with a list of solicitors, (although you can use your own if you prefer) who are familiar with mortgage rescue. You choose who to instruct.

The HA will pay the solicitors for the work they do on your behalf, so you don't pay anything. Our final bill showed the HA had paid £440 in legal fees.

HTH A x

Hi Angie, thanks for letting me know that - that's another few hundred quid in our pockets that I thought we'd have to fork out for!! Nice to hear!! I've just written another update on here... things still going ok but still very much living on tenter hooks at the mo and won't be able to breathe properly again until this is all hopefully processed, signed-sealed-delivered!!! Know you know what that feels like!!!

Hope you're still happy and rellishing in being mortgage free!!

H x