Homeowners who used the government’s help to buy loan scheme are facing difficulties in obtaining the necessary paperwork to sell or remortgage their properties after the scheme’s administration was transferred to a new company called Lenvi. This change has caused significant delays and problems for borrowers who need to pay off their loans or provide details of the loan to their new lenders. Although no documents have gone missing, there have been difficulties in accessing certain data. Several borrowers have reported spending hours on the phone trying to obtain vital paperwork and have experienced delays in completing sales or remortgages. The help to buy scheme, which closed to new applicants in October, was introduced in 2013 to assist individuals in getting on the housing ladder. Over 380,000 people have utilized the scheme.
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