Help to Buy Redemption

Monkeysocks42

I'm just about to start the redemption process having agreed a sale on my house. I've researched and instructed a valuer and filled in the Target form in readiness for sending off with the valuation.

Do I have to send this by post or can it be sent to the email address on the form? How did people make payment? I don't have a cheque book so hoping I can do this over the phone but have read older posts suggesting getting through on the phone is a nightmare!

Has anyone got any recent experience of how long it's taking to receive the redemption letter after sending in the paperwork?

Tiglet2

https://www.myfirsthome.org.uk/

Then click on "Redeem" at the bottom.

Then click on "Customer Information Pack"

Then click on "Redemption and Staircase Information Pack"

Hope that helps!

Monkeysocks42

Tiglet2 wrote: »

https://www.myfirsthome.org.uk/

Then click on "Redeem" at the bottom.

Then click on "Customer Information Pack"

Then click on "Redemption and Staircase Information Pack"

Hope that helps!

Thanks. I've already filled this in (although completely missed the bank details so thanks for the link! :doh: ) It states you must send the form and valuation to them but doesn't say if you can do this by email (which would be so much easier to track than posting to a PO Box).

kingstreet

See the FAQs;-

Who Do I Need To Send My Valuation To?

Please email all correspondence to Target.HCA@targetgroup.com. If you do not have access to email, please refer to the Contact Us page to find our address and post your valuation to.

HTown

I redeemed earlier this year and the whole process took around 3 months. Target HCA are useless generally and kept giving my solicitor different instructions and it meant a delay in getting the Land Registry to take off the charge. Taking the charge off is probably the longest part.

Did you make sure you got a RICS certified surveyor? I emailed my valuation along with the form and details of my solicitor. It probably took a few days before they sent me the letter saying how much I owed and then the solicitors started the process with the ££. Target HCA do seem to have set time periods in the process so if you want it to move smoothly I’d suggest using a solicitor who can chase it all up for you. I can recommend mine who took all the hassle away from me because I don’t currently live in the U.K.

PM me if you need anything

Monkeysocks42

HTown wrote: »

I redeemed earlier this year and the whole process took around 3 months. Target HCA are useless generally and kept giving my solicitor different instructions and it meant a delay in getting the Land Registry to take off the charge. Taking the charge off is probably the longest part.

Did you make sure you got a RICS certified surveyor? I emailed my valuation along with the form and details of my solicitor. It probably took a few days before they sent me the letter saying how much I owed and then the solicitors started the process with the ££. Target HCA do seem to have set time periods in the process so if you want it to move smoothly I’d suggest using a solicitor who can chase it all up for you. I can recommend mine who took all the hassle away from me because I don’t currently live in the U.K.

PM me if you need anything

Yes, we've instructed a RICS surveyor who has done these before so know exactly what they need to cover off. We have a solicitor instructed already as we are selling and buying along with redeeming the H2B. Good news that they are at least turning the redemption letter around quite quickly now. I didn't want to be the one further down the process, holding up a whole chain because Target were slow getting the letter out.

Will PM you for tips if we get stuck!

bexybest

You can send the documents via email and you can pay over the phone. It says bank transfer on the documents but Target told me that took 5 days to allocate the payment.

Once you send documents over give them a call to confirm they've received them, and in my experience they can process the documents within 30 minutes.

Vampgirl

We redeemed our loan a couple of months ago. Yes you can submit the form and valuation by email and you can call them up to pay the fee by card.

I didn't have any problems getting through to them on the phone and everyone I spoke to was very helpful BUT we did have a few problems with them.

Firstly they overlooked our valuation report and forgot to process it - until I phoned them up to see what was going on because I hadn't heard anything.

Then we had huge problems with them sending out the redemption pack to our solicitors. At first I thought it was the solicitors who were at fault (because our redemption letter from Target arrived in the post within a couple of days of me phoning them) but after a couple of weeks of back and forth where Target claimed to have emailed the pack to our solicitor I finally got them to copy me into their email and found they had misspelled the solicitor's email address (even though I'd checked that with them several times).

So I'd always recommend following up any email with a phone call, and if communications start to go astray get them to copy you in all email correspondence. We were remortgaging so we used the "free legals" solicitor the lender appointed for the remortgage - but like everything, you get what you pay for and our solicitors didn't chase Target at all. But as we only paid a tiny bit extra to cover the HTB work we can't really complain. If you're choosing and paying for a solicitor yourself then definitely check with them how experienced they are dealing with HTB redemptions and whether they'll do the chasing on your behalf.