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Staircasing competition duration time
jmhock
Posts: 11 Forumite
Hi Guys
Does anything here sound unusual to you?
I currently own 45% of my shared ownership property and I’m now staircasing to 100%. I started the process in late july and got my valuation through on the 3rd of August. I was given an estimated completion of 10 weeks. Every week since the valuation my solicitors and i have been checking up on the Housing association for the paperwork (also know as the memorandum of staircasing). For the last 4 weeks i have been told it should be ready in about a week. To this date (22nd Oct) my solicitors have still not received the paperwork. My valuation expires on the 3rd of November although the HA have assured me that as they are responsible for the delay so they will front the costs of any extension needed. Im trying to trust them but my confidence isn’t high. I’ve now raised the issue with the line manager at the HA. I’m awaiting a response.
Does any of this sound normal to you? How long has it taken you to get to 100%? Am i being to pushy or should there be anything more I’m doing to protect myself?
Does anything here sound unusual to you?
I currently own 45% of my shared ownership property and I’m now staircasing to 100%. I started the process in late july and got my valuation through on the 3rd of August. I was given an estimated completion of 10 weeks. Every week since the valuation my solicitors and i have been checking up on the Housing association for the paperwork (also know as the memorandum of staircasing). For the last 4 weeks i have been told it should be ready in about a week. To this date (22nd Oct) my solicitors have still not received the paperwork. My valuation expires on the 3rd of November although the HA have assured me that as they are responsible for the delay so they will front the costs of any extension needed. Im trying to trust them but my confidence isn’t high. I’ve now raised the issue with the line manager at the HA. I’m awaiting a response.
Does any of this sound normal to you? How long has it taken you to get to 100%? Am i being to pushy or should there be anything more I’m doing to protect myself?
0
Comments
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So the line manager has been sitting on my email for a week now. Should it really be this slow?
Maybe it's time to contact some kind of trading standards0 -
I managed to speak to the line manager yesterday. He missed my email from last week so i sent it to him again. I don't know what he did but they have now notified me that the "Memorandum of Staircasing" paperwork is on its way to my solicitors. Great news:j
He was very apologetic and indicated that the process should of been completed about 6 weeks ago. He also indicated that this isn't the first time such delays have affected customers.
I created this thread because i was unable to find out how long the Staircasing process takes. I can let you know that, Mortgages aside, it should take no more than 10weeks from application to completion.
In my case as the process was about to overrun the length of the valuation i was able to get in writing that the HA would pay and arrange for an extension.0
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