Help to Buy Redemption

Multicoloured_spider

I'm currently trying to redeem my help to Buy loan in full by remortgaging. Target HCA own our loan.

We've had the new mortgage approved, and I have sent all the paperwork to Target with our independent RICS approved valuation. This was 3 weeks ago and they haven't even acknowledged it yet, is this normal?
Has anyone been through this process? How long did it all take?

Natdb

Hey how did you get on with this? I am going through the same process and they seem bit of a night mare to deal with!

daman1982

my valuation and rics survey was sent july 10th and i received the redemption statement back today. you have to give them evidence of when they received the info and chase them continally.

3 weeks is way too long, they state maximum it should take them is 10 working days.

Vicqui83

Hi did you have any joy with this process as we need to start this soon and was wondering how you went about it. Did you need a solicitor?

dhokes

Multicoloured_spider wrote: »

I'm currently trying to redeem my help to Buy loan in full by remortgaging. Target HCA own our loan.

We've had the new mortgage approved, and I have sent all the paperwork to Target with our independent RICS approved valuation. This was 3 weeks ago and they haven't even acknowledged it yet, is this normal?
Has anyone been through this process? How long did it all take?

Natdb wrote: »

Hey how did you get on with this? I am going through the same process and they seem bit of a night mare to deal with!

daman1982 wrote: »

my valuation and rics survey was sent july 10th and i received the redemption statement back today. you have to give them evidence of when they received the info and chase them continally.

3 weeks is way too long, they state maximum it should take them is 10 working days.

If the quality of service is very poor, you should contact them and/or the finance Ombudsman as stated on their website - http://www.myfirsthome.org.uk/contact/

I'm considering purchasing my first home and the process of re-mortgaging/buying back equity from the government is putting me off.

CelticBhoy88

[QUOTEI'm currently trying to redeem my help to Buy loan in full by remortgaging. Target HCA own our loan.

We've had the new mortgage approved, and I have sent all the paperwork to Target with our independent RICS approved valuation. This was 3 weeks ago and they haven't even acknowledged it yet, is this normal?
Has anyone been through this process? How long did it all take?][/QUOTE]

Target HCA are an absolute nightmare to deal with.

I am coming to the end of this process, but it has delayed the sale of my house by months. They were so bad...in the time it took them to process all the information, my RICS valuation expired and I had to pay for a further desktop valuation to be done so we could complete the sale. Ridiculous! Their customer service is awful, their attitude is awful. The company is unregulated and can do whatever they want.

Did you send your info off via post or email? If you sent it via email, you should have received an auto response saying the info had been received and they will respond in 7-10 working days.

Have you paid your £250 admin fee?
They will not do anything, process anything or acknowledge anything with out it!!!

Hope you get it sorted.....

dhokes

CelticBhoy88 wrote: »

I'm currently trying to redeem my help to Buy loan in full by remortgaging. Target HCA own our loan.

We've had the new mortgage approved, and I have sent all the paperwork to Target with our independent RICS approved valuation. This was 3 weeks ago and they haven't even acknowledged it yet, is this normal?
Has anyone been through this process? How long did it all take?]

Target HCA are an absolute nightmare to deal with.

I am coming to the end of this process, but it has delayed the sale of my house by months. They were so bad...in the time it took them to process all the information, my RICS valuation expired and I had to pay for a further desktop valuation to be done so we could complete the sale. Ridiculous! Their customer service is awful, their attitude is awful. The company is unregulated and can do whatever they want.

Did you send your info off via post or email? If you sent it via email, you should have received an auto response saying the info had been received and they will respond in 7-10 working days.

Have you paid your £250 admin fee?
They will not do anything, process anything or acknowledge anything with out it!!!

Hope you get it sorted.....

I suggest that you complain to the finance ombudsman - http://www.financial-ombudsman.org.uk/consumer/complaints.htm

kamb1ng

Hi, I just completed the Help to Buy redemption with Target. Does anyone know if I'm supposed to receive any documentation stating this fact? The Target call center doesn't have a clue.

gazzabboi

How did you all get on with valuations? I have had 2 done, and they have both been very high

kamb1ng

gazzabboi wrote: »

How did you all get on with valuations? I have had 2 done, and they have both been very high

Bank valuations are normally high.

For HtB redemption, find an independent surveyor and get him/her to value your property making it clear that it's for HtB redemption purposes (not for selling). Then it'll be more reasonable. They're not like estate agents trying to value your property as high as possible.

For example I used this guy:
http://www.jgpropconsultants.co.uk/

The Target team accepted his valuation with no issue.

kingstreet

kamb1ng wrote: »

Hi, I just completed the Help to Buy redemption with Target. Does anyone know if I'm supposed to receive any documentation stating this fact? The Target call center doesn't have a clue.

Your solicitor should have handled the redemption and removal of the legal charge.