Help to Buy Redemption

dhokes

ToonExile said:

I would just like to add a positive note on Target HCA. I applied for my redemption statement on Monday 08/02/2020. I supplied both my RICs valuation and Form B by email. I then contacted Target HCA on Thursday 11/02/2020. I contacted Target HCA for an update today 17/02/2020 they then provided me with my redemption statement via email and confirmed that my solicitor was already in receipt of my redemption statement. I have to say this service has been excellent completely different from what I have read in this thread. I think it helps if you follow up with a call after providing the documents and paying your fee.

If you don't mind me asking, how much did it approximately cost you in total and do you have a breakdown e.g. solicitor fees, valuation, Target HCA fees etc. so that it can help me budget for redemption.

ToonExile

My Rics Survey was £275, Solicitors fee including Money transfer fee £314 and finally the £200 Target HCA redemption fee

dhokes

ToonExile said:

My Rics Survey was £275, Solicitors fee including Money transfer fee £314 and finally the £200 Target HCA redemption fee

Thank you. Much lower than I expected.

phoebass

Does anyone have any experience in the removal of a spouse's name from a help to buy scheme after a divorce? 1 partner is keeping the marital home and buying the other out. How long does it take Target to confirm the removal of the name? I am waiting on this to proceed with my house purchase and it is getting tedious! Thanks

Fairypop

I need to do this - what order do I need to do things in? Rics - solicitor - apply for remortgage or apply for remortgage then Rics and solicitor? 

Aspire99

ToonExile said:

My Rics Survey was £275, Solicitors fee including Money transfer fee £314 and finally the £200 Target HCA redemption fee

Do you mind sharing the details of your solicitor. His charge is quite competitive. Many thanks!

Manic_monday

Does anyone have any experience of the process after the original valuation for help to buy has expired? We have got our desktop valuation - do we now need another redemption letter?  

jblake1234

I would like to say I am having trouble at the moment. My solicitor is ready to exchange contracts and hadn’t heard from Target. I emailed Target at the start of March with the RICS survey and supporting documents, along with the admin fee of £200. I phoned them today to ask what was going on. They said they had replied to my email - which they had not- I checked my junk as well saying that I needed an actual signature over an electronic one. So I quickly did this and phoned them back to check they had received this. They then are requesting additional documents such as a memorandum of sale and a redemption statement from my mortgage company. I wish I knew all of this sooner as I’m now conscious that the 3 months expiry is not far off. I’m hoping I can get this all completed in time. Please make sure you chase them! 

Manic_monday

jblake1234 said:

I would like to say I am having trouble at the moment. My solicitor is ready to exchange contracts and hadn’t heard from Target. I emailed Target at the start of March with the RICS survey and supporting documents, along with the admin fee of £200. I phoned them today to ask what was going on. They said they had replied to my email - which they had not- I checked my junk as well saying that I needed an actual signature over an electronic one. So I quickly did this and phoned them back to check they had received this. They then are requesting additional documents such as a memorandum of sale and a redemption statement from my mortgage company. I wish I knew all of this sooner as I’m now conscious that the 3 months expiry is not far off. I’m hoping I can get this all completed in time. Please make sure you chase them! 

We had the same experience first time around -  6 weeks with no reply or confirmation they had received anything. We learned that they can resolve issues there & then on the phone and can send the redemption letter via email if requested. Our original valuation has expired now so we sent the desktop valuation today - called straight after and he saved it to the file and said we will have the new letter by Thursday. Fingers crossed you get sorted soon!

jblake1234

Manic_monday said:

jblake1234 said:

I would like to say I am having trouble at the moment. My solicitor is ready to exchange contracts and hadn’t heard from Target. I emailed Target at the start of March with the RICS survey and supporting documents, along with the admin fee of £200. I phoned them today to ask what was going on. They said they had replied to my email - which they had not- I checked my junk as well saying that I needed an actual signature over an electronic one. So I quickly did this and phoned them back to check they had received this. They then are requesting additional documents such as a memorandum of sale and a redemption statement from my mortgage company. I wish I knew all of this sooner as I’m now conscious that the 3 months expiry is not far off. I’m hoping I can get this all completed in time. Please make sure you chase them! 

We had the same experience first time around -  6 weeks with no reply or confirmation they had received anything. We learned that they can resolve issues there & then on the phone and can send the redemption letter via email if requested. Our original valuation has expired now so we sent the desktop valuation today - called straight after and he saved it to the file and said we will have the new letter by Thursday. Fingers crossed you get sorted soon!

Aww that’s so annoying that you had to pay for a new valuation! You should make Target pay for it as it is there fault. Good to know you can get them to send the redemption letter by email. I will ask next time I phone. Can they send it to the solicitor like this too? Fingers crossed for you 🤞🤞 let me know how you get on.