We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
HTB - Selling Property Redemption Process

juice_man
Posts: 1 Newbie
Hi!
My conveyancer has confused me as to how the Help To Buy equity loan redemption process works through selling my house and paying it back through the sale proceeds.
I have already had the RICS valuation and got the redemption information pack letter from Target confirming that this is ok and its the next steps I'm confused about.
My understanding from here is:-
My conveyancer has confused me as to how the Help To Buy equity loan redemption process works through selling my house and paying it back through the sale proceeds.
I have already had the RICS valuation and got the redemption information pack letter from Target confirming that this is ok and its the next steps I'm confused about.
My understanding from here is:-
1. Agree expected completion date along the chain.
2. My conveyancer sends legal undertaking email to Target (completion date must be this date plus 15 working days at a minimum)
3. 5 working days later target respond with authority to complete.
4. We can exchange at this point (as long as completion is after point 2 +15 working days).
However my conveyancer has said this is not correct and has stated:-
1. They will request authority to complete
2. Once this is received back (15 working days stated) we can agree exchange & completion dates.
3. We are free to exchange/complete at this point.
Does anyone have any recent experience on this?
Also any recent experience with the timings to get the authority to complete back?
Thanks
However my conveyancer has said this is not correct and has stated:-
1. They will request authority to complete
2. Once this is received back (15 working days stated) we can agree exchange & completion dates.
3. We are free to exchange/complete at this point.
Does anyone have any recent experience on this?
Also any recent experience with the timings to get the authority to complete back?
Thanks
0
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 351.4K Banking & Borrowing
- 253.3K Reduce Debt & Boost Income
- 453.8K Spending & Discounts
- 244.4K Work, Benefits & Business
- 599.7K Mortgages, Homes & Bills
- 177.1K Life & Family
- 258K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards