Help to Buy - equity repayment. HELP needed !!

DragonRider6

We purchased our house in 2012, yes we have left it a long time to sort out the equity (but now in a financially better place to repay via adding the extra chunk to the mortgage). 

Started this process in May. The valuation. Received the valuation 3rd of June, and sent it off to them. Paid the £200 fee and instructed a solicitor. All part of the terms and steps on their website. 

In September now, and still no further forward. 

The £200 fee should have been £250, this was sent via a letter saying the account was in arrears by £50. Not clear correspondence, and no payment was ever missed. I managed to get hold of their accounts team and was told because of the scheme we were on its £250 fee not £200 despite prior correspondence and the website saying £200. Paid the additional £50. 

The valuation was sent to us 3rd of June. But the surveyor dated the report 31/05. I sent the same valuation to them on 3rd June the same day I received it. Within their 5 day requirement. They have now sent not 1 but 3 letters saying it’s expired and we need ANOTHER valuation. It’s £500 a pop and I’m reluctant to spend it given we could just end up in the same cycle. 

Their complaints team number aren’t taking calls. They have my complaint and it’s been 4+ weeks now and they are still
investigating.

I just don’t see any hope or resolution in sight. Does anyone have any help or advice? How can I push this forward? I’ve been on hold 4 hours plus and I cannot keep spending time on the phone, they don’t reply to emails. I’m just at the end of my tether trying to push this to conclusion. Please help! 

DragonRider6

Update: managed to get through to help to buy customer service, they have acknowledged that they have sat on the valuation since 3/6 and not reviewed until now. They are saying their policy is 3 month expiry and we need a report. This is totally unacceptable, they failed their procedures and now are blaming us. 

silvercar

Make a complaint, using their complaint procedure. If you don't get a satisfactory outcome then you can go to the ombudsman.

https://www.gov.uk/guidance/help-to-buy-complaints-procedure

silvercar

I'll move this to the mortgage board, as HTB is a mortgage product. Also, you will see other threads on there about HTB.

chanz4

find their ceo on linked in and email them

ecraig

Out of interest, how much are you currently paying HTB on the interest element per month, and what will the interest be on your mortgage?
my understanding was that HTB interest is far less than you’ll pay on a mainstream mortgage.