Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • mills705
    • By mills705 7th Sep 17, 3:46 PM
    • 82Posts
    • 26Thanks
    mills705
    Mortage and survey
    • #1
    • 7th Sep 17, 3:46 PM
    Mortage and survey 7th Sep 17 at 3:46 PM
    My first time buying and I feel a bit rabbit in headlights right now so bear with me.

    My mortgage has been approved (subject to valuation), got the survey back today. The valuation is the same as mortgage which is good news?

    The survey was a home buyers one? So it brought up some things- a few 3's. Will these impact the mortgage offer at all? I am nervous that these will affect the offer and the sale go through as I am back with my parents now and hate it.
Page 1
    • kingstreet
    • By kingstreet 7th Sep 17, 3:56 PM
    • 31,913 Posts
    • 17,057 Thanks
    kingstreet
    • #2
    • 7th Sep 17, 3:56 PM
    • #2
    • 7th Sep 17, 3:56 PM
    As far as the mortgage is concerned, you need only look at the mortgage report & valuation as the lender will not see the report on condition you have paid for.
    I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.
    • mills705
    • By mills705 7th Sep 17, 3:58 PM
    • 82 Posts
    • 26 Thanks
    mills705
    • #3
    • 7th Sep 17, 3:58 PM
    • #3
    • 7th Sep 17, 3:58 PM
    the market value matches my offer for the property but there is also re in statement cost which is higher?
    • kingstreet
    • By kingstreet 7th Sep 17, 4:00 PM
    • 31,913 Posts
    • 17,057 Thanks
    kingstreet
    • #4
    • 7th Sep 17, 4:00 PM
    • #4
    • 7th Sep 17, 4:00 PM
    the market value matches my offer for the property but there is also re in statement cost which is higher?
    Originally posted by mills705
    The reinstatement cost is for insurance purposes.

    Are there any items listed in essential repairs or requiring specialist reports, such as electrical/roofing/timber & damp etc?
    I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.
    • mills705
    • By mills705 7th Sep 17, 4:15 PM
    • 82 Posts
    • 26 Thanks
    mills705
    • #5
    • 7th Sep 17, 4:15 PM
    • #5
    • 7th Sep 17, 4:15 PM
    He states there are no reasons to not buy the property.

    where would the essential repairs be found? I can see he recommends an electrician etc to visit but that is it?
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

325Posts Today

3,056Users online

Martin's Twitter