Target HCA Help to Buy Loan!?!

moneytorques

Has anyone else failed to receive their welcome pack after Completion? I'm 4 months into our new property and haven't received a single piece of literature.
I've emailed them several times as I want to discuss other items and had nothing but an automated response.
They haven't even set up the £1 per month administration fee!

NYA2017

Now that you mention it I don't think I've received mine. I definitely haven't set up the £1 payment. Completed December. But I've read on loads of different sources that there are big delays with Target atm, so that's probably why. It took me 3.5 months to get a reply to an unrelated question so I wouldn't worry. Maybe give them a call to nudge.

GRIFFINSM

Keep your eyes and ears peeled with Target. Once my 5 yr interest free was coming to an end i contacted them a few months beforehand to set up payments. I heard off them 4 months later to inform me my account was in arrears and i needed to make the payment immediately. Keep on at them as they are super disorganised. I dont think ive had a company cause me so much worry and tears ever. I had to go to the financial ombudsman in the end. They had to pay me compensation.

missplant

i had to phone them to set up my £1 fee, Ive been in my home 2 years but there was no arrears to pay.

moneytorques

GRIFFINSM wrote: »

Keep your eyes and ears peeled with Target. Once my 5 yr interest free was coming to an end i contacted them a few months beforehand to set up payments. I heard off them 4 months later to inform me my account was in arrears and i needed to make the payment immediately. Keep on at them as they are super disorganised. I dont think ive had a company cause me so much worry and tears ever. I had to go to the financial ombudsman in the end. They had to pay me compensation.

Ive also gone to the FO.

Can I ask what you ended up getting compo wise as theres no real monetary loss is there?

kingstreet

It's worth remembering this organisation won the contract to administer post-sales HTB and other shared equity schemes by submitting the lowest bid to the Homes & Communities Agency.

It isn't a lender and it doesn't have a commercial imperative to have happy "customers."

georgia_1991

Hello!

Sorry I just saw this post, and my situation is not the same however I saw a couple of people had went to the ombudsman and wondered if anyone might have some advice.

I will try keep it short but sweet, I applied for a transfer of equity on the 22nd May (this is when I paid my fee etc) after several phone calls I finally received my solicitors pack on the 20th July. By this point because I was switching mortgage lenders from a joint to a single, I was now paying a flexible interest rate with my current joint mortgage and was waiting for Target HCA before I could do anything. They only sorted my documents and sent them off for approval on the 28th August. Documents finally sealed and sent back to solicitor just last week (4th Oct 18) ! Over 5 months I have waited, and over £1000 in mortgage interest I have paid I won't get a penny back. The whole thing has been traumatising, and I think I now know all Target HCA employees by name with the amount of tearful phone calls. At this stage I would like to move forward with some form of severe complaint, but will it just be another document put in a pile and not dealt with for 5 months?


Ok that wasn't so short, but would appreciate any advice or if anyone has dealt with something similar. Thank you in advance - im nearly grey with it all. x

Bernie111

What a shocking company.  I have had my home 5 years, I am in the Army and have just returned from 4 years overseas.  I had not received any mail from them for the whole time I was away, the first thing I received after my return was a letter last month saying that my account was in arrears.  It was the first month that I had to pay them.  I called the very next day and paid my account up to date.  I complained that I had not received anything and they told me that they had not sent anything to me for 2 years as they didn't have my address in Germany (this was apparently down to my forwarding address being lost in change over between Target and the previous company).  So no responsibility on their part then!!!  I then received a letter from them this week stating that "We are prepared to allow me to discharge your remaining indebtedness' to us in accordance with the following schedule of payments"!!  is that the payment I have already made.  I called them back and they told me I shouldn't have got into debt!!  I am now about to pay the loan off as I can't be doing with attitudes like that!  what a terrible company with even worse customer service.  I feel for anyone who has to deal with them!!!

Viki2410

I questioned this in Jan and got the below reply

Good Morning,

 Thank you for your email.As we have not set your account up on our system properly we will not be charging you the £1 management fee. 

Once we have set up your account we will send out a welcome letter and the £1 management fee will start from that date. 

Kind Regards

Target HCA

Target.HCA@targetgroup.com

Tel: 0345 848 0235

www.myfirsthome.org.uk/

Adrian12345

Hi,

Thought I'd throw another Target HCA scenario into the mix - my one having a Covid19 twist.

I am currently in the middle of remortgaging my first charge mortgage, to do this when using HTB you have to get a deed of postponement signed off by Target HCA. This is to postpone the second HTB charge whilst the first charge is swapped between lenders. You have to pay both Target HCA and your conveyance an additional fee for this.
As per the earlier posts, Target are inexcusably slow at doing this but I had planned in the 4-6 weeks they stated it would take - so fine I thought.

Until today where my conveyance got a message to say that Target have suspended processing any work on postponing charges due to Covid19. I phoned them to find out what was going on and it turns out the legal firm that Target have subcontracted the sealing of the deeds to has shut shop for the duration of lock down. The lady on the phone was as helpful as she could be but the position is they have no idea how long things are postponed for and no plan B. Strictly speaking not all Targets fault but I have to ask, why this legal firm despite having work to do has shut down when, the two banks, conveyance legal firm, and Target HCA itself continue to operate. I am also luckily still working I might add. Has this firm not made provision for the majority of staff to work from home and keep a skeleton staff in place to handle physical documents (the latter being due to the legal fraternity not finding ways to make all their transaction fully electronic)? No it appears not.

So I am left now on the banks variable rate not knowing whether to wait it out or cut my losses and renew with my existing lender at a higher rate. Each day the additional interest I'm paying is accumulating....

Is anyone else in a similar position or with a redemption or staircasing? 

Thrugelmir

Adrian12345 said:

why this legal firm despite having work to do has shut down

Insufficient work and impracticality in maintaining an operational service. Many solicitors are furloughing their employees.