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
    • Frustrated_First_Timer
    • By Frustrated_First_Timer 1st Dec 17, 1:16 PM
    • 2Posts
    • 1Thanks
    Frustrated_First_Timer
    Valuer refusing to value house
    • #1
    • 1st Dec 17, 1:16 PM
    Valuer refusing to value house 1st Dec 17 at 1:16 PM
    Hi all

    My wife and I are in the process of trying to buy our first house. We have found a place we really like, somewhere we can afford, and one that we won't need to move from for ages.

    The previous owner has passed on, and the house is in serious need of a refurb, which we are happy to take on. All seemed to be going well, until we got the mortgage valuation done. The valuer is refusing to give a value due on the property due to "damp problems"

    The EA instructed a (free) damp and timber survey to be done, and the surveyor came back with a very non specific report, but with the following points:

    • Due to it having been unoccupied for so long,it was likely to read worse
    • Gutters needed cleaning
    • A recommendation to install an extractor fan in the bathroom
    • Some damp proof work of approx £1800 ex VAT (though not stated where it was needed in the report)

    This has now gone back to to the valuer, who has read the report, and is now refusing to value the property until the works are completed "because of the issues raised in the report" . Considering that the damp and timber surveyor was likely trying to push for business, and its a 1900 house, I don't put much store in his recommendations.

    Currently, we haven't even had a decision back from the bank, as they will only give us a decision once the valuation is completed, and while we don't want a very quick sale due to an existing tenancy agreement, it would be nice to at least know if we have been approved for the mortgage!

    Is there any way of contesting the valuation (bank instructed valuer), or asking for a second opinion? From reading other peoples experiences, it seems very strange that the surveyor won't even issue a valuation . Speaking to our MA, they have said that it may be worth looking at alternative lenders, but I am worried that doing that may affect credit scores and possibly cost even more...


    Any help or advice would be greatly appreciated!
Page 1
    • RedFraggle
    • By RedFraggle 1st Dec 17, 1:46 PM
    • 537 Posts
    • 1,243 Thanks
    RedFraggle
    • #2
    • 1st Dec 17, 1:46 PM
    • #2
    • 1st Dec 17, 1:46 PM
    I wouldn't rely on a survey by anybody instructed by the EA. The EA is there to sell the house.
    Officially in a clique of idiots
    • G_M
    • By G_M 1st Dec 17, 4:32 PM
    • 42,278 Posts
    • 49,116 Thanks
    G_M
    • #3
    • 1st Dec 17, 4:32 PM
    • #3
    • 1st Dec 17, 4:32 PM
    I wouldn't rely on a free survey by anybody working as a salesman for a damp proofing company. The salesman is there to sell damp proofing.
    Originally posted by RedFraggle
    so that's two reasons not to trust......!
    • G_M
    • By G_M 1st Dec 17, 4:35 PM
    • 42,278 Posts
    • 49,116 Thanks
    G_M
    • #4
    • 1st Dec 17, 4:35 PM
    • #4
    • 1st Dec 17, 4:35 PM
    ..............The valuer is refusing to give a value due on the property due to "damp problems"

    .....................
    ........ the valuer, who has read the report, and is now refusing to value the property until the works are completed "because of the issues raised in the report" .

    ................

    Currently, we haven't even had a decision back from the bank, as they will only give us a decision once the valuation is completed, ..........

    Is there any way of contesting the valuation (bank instructed valuer), or asking for a second opinion?
    Originally posted by Frustrated_First_Timer
    Almost impossible. The bank relies on their independant, professional, valuer.

    Try another lender?

    Who is selling? The Executors of the Estate? Might be worth asking if they'd be prepared to do the recommended work in order to get their sale to go through? You could offer to increase your offer by the amount of the works if they do.

    They might consider this if they think any other future buyer wil have the same problem.
    Last edited by G_M; 01-12-2017 at 5:00 PM.
    • Thrugelmir
    • By Thrugelmir 1st Dec 17, 6:13 PM
    • 56,202 Posts
    • 49,582 Thanks
    Thrugelmir
    • #5
    • 1st Dec 17, 6:13 PM
    • #5
    • 1st Dec 17, 6:13 PM
    the house is in serious need of a refurb
    • Due to it having been unoccupied for so long,it was likely to read worse
    • Gutters needed cleaning
    • A recommendation to install an extractor fan in the bathroom
    • Some damp proof work of approx £1800 ex VAT (though not stated where it was needed in the report)
    Originally posted by Frustrated_First_Timer
    Doesn't sound that serious. Unless there's other factors to be considered. What else did the bank valuer comment upon.
    “Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble”
    ― Warren Buffett
    • Frustrated_First_Timer
    • By Frustrated_First_Timer 3rd Dec 17, 5:45 PM
    • 2 Posts
    • 1 Thanks
    Frustrated_First_Timer
    • #6
    • 3rd Dec 17, 5:45 PM
    • #6
    • 3rd Dec 17, 5:45 PM
    Thanks for the help so far.

    I am aware that the survey from the damp contractor was going to find some work, as he was going on for free. It’s frustrating, as having done some research, “diagnosing” damp using a damp meter is a very unreleiable method, so having our house purchase held up by the use of a knowingly flawed test method is very frustrating. It also seems that valuer isn’t even prepared to put a retention on the works just to progress things.

    The EA is going back to the vendor (the executor) to see if they will do the work, as mentioned, it’s likely that others may have the same issue. Ideally we don’t want to look at other lenders, as we’re worried that applying with another lender may affect our current AiP, not to mention possibly having to pay another valuation fee.
    • saajan_12
    • By saajan_12 4th Dec 17, 12:49 PM
    • 996 Posts
    • 672 Thanks
    saajan_12
    • #7
    • 4th Dec 17, 12:49 PM
    • #7
    • 4th Dec 17, 12:49 PM
    Possible actions:
    1. Get another (paid) damp surveyor to give another opinion on the lack of damp issues.
    2. Tell the lender that the valuer is refusing to value and ask them to instruct the valuer to decide the value in the current condition. They MAY oblige though expect the value to include significant costs of damp remediation
    3. Get another lender.
    • Doozergirl
    • By Doozergirl 4th Dec 17, 2:17 PM
    • 24,053 Posts
    • 66,667 Thanks
    Doozergirl
    • #8
    • 4th Dec 17, 2:17 PM
    • #8
    • 4th Dec 17, 2:17 PM
    I don’t see that you have any other choice than a new lender or a new house.

    The existing surveyor is unlikely to be swayed although the problems don’t sound bad to me. Given that free damp surveys like to sell stuff, there’s probably barely an issue at all.

    Another surveyor from another lender may take an entirey different view to this one. This one does sound a bit extreme.
    Everything that is supposed to be in heaven is already here on earth.
    • AdrianC
    • By AdrianC 4th Dec 17, 4:53 PM
    • 15,713 Posts
    • 14,030 Thanks
    AdrianC
    • #9
    • 4th Dec 17, 4:53 PM
    • #9
    • 4th Dec 17, 4:53 PM
    All seemed to be going well, until we got the mortgage valuation done. The valuer is refusing to give a value due on the property due to "damp problems"
    Originally posted by Frustrated_First_Timer
    He's not refusing to give a value.

    He's saying that, in his opinion as an agent of the lenders, the house is not suitable security for any amount of lending.
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

4,080Posts Today

7,925Users online

Martin's Twitter