Valuation Instructed

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foolishqueen
foolishqueen Posts: 237 Forumite
First Anniversary Combo Breaker
in Mortgages & endowments
Afternoon all,

A quick quesiton if you wouldn't mind:

Just had confirmation from my broker that the valuation has been instructed. Does this mean that my lender (NR) will proceed with my mortgage to offer on the assumption that the survey is ok? i.e. I won't be turned down due to credit checking or that sort of thing.

I got an AIP from NT a couple of weeks ago, and my broker submitted the application on Tuusday. Looking at my credit file I can see another search on that day from NR again - is that likely to be NR or my broker?

Thanks.
Dave.
Total Debt as of January 2010: £61,234 :mad:
Debt Free Day: A long way off!! :j
DMP mutual support thread member: 302 :j

Comments

  • wigglygiggly
    wigglygiggly Posts: 161 Forumite
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    Will be watching for an answer aswell, as we had the valuation done this week and are nervously waiting for the offer!!!!! (with NR too!!!)
  • djm1972
    djm1972 Posts: 389 Forumite
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    The lender would not have instructed the valuer unless everything else (credit checks, affordability etc.) were in order.
  • dunstonh
    dunstonh Posts: 116,371 Forumite
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    They wouldnt normally instruct a valuation if the application doesnt pass the initial stages.

    You have broker. Ask them. Its what they are there for.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • foolishqueen
    foolishqueen Posts: 237 Forumite
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    Thanks all. I wil ask my broker on Monday for a more complete picture. Wigglygiggly I hope it all goes ok for you! Let me know how you get on!
    Total Debt as of January 2010: £61,234 :mad:
    Debt Free Day: A long way off!! :j
    DMP mutual support thread member: 302 :j
  • wigglygiggly
    wigglygiggly Posts: 161 Forumite
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    I will do - what a nightmare not knowing what is going on!!!!! Maybe we should start a new thread - the race to be in by Easter!!!! :)
  • wigglygiggly
    wigglygiggly Posts: 161 Forumite
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    Guess what!!! Our mortgage offer came throught this morning!!!!
  • foolishqueen
    foolishqueen Posts: 237 Forumite
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    Excellent news wigglygiggly - I bet you are really pleased! So it took you 13 days from application submitted to offer, which sounds great to me - hope mine is as quick, although no doubt now we are going to be into the New Year because of Christmas!
    Total Debt as of January 2010: £61,234 :mad:
    Debt Free Day: A long way off!! :j
    DMP mutual support thread member: 302 :j
  • wigglygiggly
    wigglygiggly Posts: 161 Forumite
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    We didn't think we would hear this side of Xmas either - so we are chuffed to bits. Now thats over, we have a waiting game on our hands. We are in a chain and our sellers seller haven't found a place to live. Not much around apparently. We have instructed our solicitors to start the searches now anyway.

    Still, at least I can relax over Xmas before the real fun begins!!!

    Hope yours come through soon too! :)
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