Help to Buy Redemption

foxtrot_mike

I requested my redemption with Target HCA on the 9th Aug 18 and I now have a completion date of 28th September so not bad going in my mind, i think its just a case in the early days making sure Target action the request as they tend to idle over it a little bit but be assertive that you are serious in that you want to Redeem.

maki43

I am about to go through the redemption process and i just wanted to make sure I am doing the right thing. Looking at their customer pack i was going to make a BACS transfer with my customer references and then send them an email with the necessary forms attached (Form A, valuation). Do i need to do anything else apart from this? Would it be better to send them as a certified letter instead?

My solicitor has said its best to get in contact with them sooner rather than later but i am not sure if there is much i can do until i have the valuation in hand. I want to send them everything rather than piecemeal.

My friends experience with them was horrendous so i just want to make sure i do everything right!

foxtrot_mike

Wait until you get the valuation before you pay, just incase your not happy with the valuation

maki43

foxtrot_mike wrote: »

Wait until you get the valuation before you pay, just incase your not happy with the valuation

Thanks for the info. Is there any benefit in submitting form A prior to this? I was thinking of waiting until I have the valuation and then send it all at once. I don't think they will do anything with my documents until they have the fee anyway.

Thampy

I sent my valuation report y'days and got my redemption statement via email today.
( I did call them soon after sending the valuation report and paid their fee over the phone)

sharper86

Hi,

Has anyone had trouble actually completing a redemption? My solicitor has sent the 21k redemption payment over but they're still taking loan payments via direct debit and denying that they have received my redemption payment.

Thanks in advance

kingstreet

If the money has been sent, your solicitor and their bank need to be talking to Target and theirs to see what has happened to it.

Cyruson

We sent the valuation, paperwork and admin fee to Target on the 18th November. We received the redemption certificate only a few days ago. Four weeks is really not good. Our solicitor has forwarded the paperwork on to the mortgage company and their legal team. We are now coming into Xmas with all the hold ups that will bring. Our valuation will expire on the 15th feb, let’s hope that’s enough time to get it sorted. The expenses are stacking up already without adding valuation extensions. The stress of this is really getting to much and I will never recommend the H2B to anyone.

foxtrot_mike

maki43 wrote: »

Thanks for the info. Is there any benefit in submitting form A prior to this? I was thinking of waiting until I have the valuation and then send it all at once. I don't think they will do anything with my documents until they have the fee anyway.

No, send all the forms and moneys together

Call them once you have sent it (by email) to confirm receipt

They will try to back out, and question items, don't give them an inch and be assertive.

johnb1988

Maxchess wrote: »

Been hassled already to set up the direct debit to HCA for the interest on the loan. No details of the monthly amount given yet and in addition am aiming to repay in full before any interest is due.
However, due to the delays in HCA responding to attempts to repay the equity loan, is it worth setting up the direct debit just in case?
What do people think?
Is it just another level of paperwork to confuse HCA?
Many thanks

I'm having this direct debit issue and I've already paid my equity loan back! (A process which took from February to October)
I keep receiving direct debit set up letters which include the statement in bold;

"We may record your payment history with credit reference agencies. Any late or missed payments may make obtaining credit more difficult in future."

I reported the error to target after the first letter and explained that I'd payed back the loan and was told the letter was sent in error and that I wouldn't receive any more but to contact them if I did. I've since received 3 duplicate letters and the payments to target HCA are due to start next month and I've been unable to make contact with them via email or on the phone, not sure what to do for the best.