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    • Lauralou79
    • By Lauralou79 20th Apr 17, 6:36 PM
    • 98Posts
    • 66Thanks
    Lauralou79
    Instructing solicitors
    • #1
    • 20th Apr 17, 6:36 PM
    Instructing solicitors 20th Apr 17 at 6:36 PM
    So our mortgage was approved subject to valuation on Tuesday by Natwest. Valuation is now not until the end of next week. We aren't expecting an issue with the valuation. Are we safe to instruct our solicitors to start or should wee wait till valuation is confirmed? It's a non chain sale so both parties want to get things moving!
Page 1
    • joshardy
    • By joshardy 20th Apr 17, 6:41 PM
    • 47 Posts
    • 42 Thanks
    joshardy
    • #2
    • 20th Apr 17, 6:41 PM
    • #2
    • 20th Apr 17, 6:41 PM
    I waited until I got the nod from my broker that the mortgage offer was in. I didn't want to waste £300 just in case the mortgage didn't come through should the valuation be way off. In the end, I only 'lost' about 2 days as our valuation and mortgage offer were done within a week.
    • MisterP123
    • By MisterP123 20th Apr 17, 6:47 PM
    • 160 Posts
    • 178 Thanks
    MisterP123
    • #3
    • 20th Apr 17, 6:47 PM
    • #3
    • 20th Apr 17, 6:47 PM
    I instructed and paid £200 for searches as soon as the offer was accepted. It was another 3 weeks until our mortgage offer came through so saved a fair amount of time.

    We were in a hurry so checked with the solicitors what costs would be incurred should we need to pull out and decided it was worth the punt.
    • ACG
    • By ACG 20th Apr 17, 7:11 PM
    • 15,388 Posts
    • 7,782 Thanks
    ACG
    • #4
    • 20th Apr 17, 7:11 PM
    • #4
    • 20th Apr 17, 7:11 PM
    If you want to complete ASAP knowing there is a risk then yes insruct them.
    If you are happy to take a week or so longer to complete but not risk losing money, then hold fire.

    It is a personal preference.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    • Lauralou79
    • By Lauralou79 20th Apr 17, 9:33 PM
    • 98 Posts
    • 66 Thanks
    Lauralou79
    • #5
    • 20th Apr 17, 9:33 PM
    • #5
    • 20th Apr 17, 9:33 PM
    Thanks for the replies Heart says go for it, head says wait, it's a lot of money but just want to get things going! Can't believe it's so long a wait for valuation after mortgage approval (subject to valuation)
    • jlaw4
    • By jlaw4 20th Apr 17, 9:45 PM
    • 95 Posts
    • 56 Thanks
    jlaw4
    • #6
    • 20th Apr 17, 9:45 PM
    • #6
    • 20th Apr 17, 9:45 PM
    Thanks for the replies Heart says go for it, head says wait, it's a lot of money but just want to get things going! Can't believe it's so long a wait for valuation after mortgage approval (subject to valuation)
    Originally posted by Lauralou79
    I'm in the same boat! been trying to decide what is best, but i would kick myself if my valuation comes in lower and i've paid £300 out... just trying to decide if the time saved would be worth risk! Never easy this house buying malarky
    • MisterP123
    • By MisterP123 20th Apr 17, 10:41 PM
    • 160 Posts
    • 178 Thanks
    MisterP123
    • #7
    • 20th Apr 17, 10:41 PM
    • #7
    • 20th Apr 17, 10:41 PM
    Sorry, I should add. We had searches done and sales contract through before our mortgage offer.

    Our offer wasn't waiting for the valuation, we went through Santander and they carry out the valuation as soon as the application is received. (if it's free with that particular product)
    • Lauralou79
    • By Lauralou79 21st Apr 17, 5:15 AM
    • 98 Posts
    • 66 Thanks
    Lauralou79
    • #8
    • 21st Apr 17, 5:15 AM
    • #8
    • 21st Apr 17, 5:15 AM
    I'm not overly worried about the valuation coming in lower we've a high % deposit and other houses that are similar have gone for more money. It's in a great location.
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