Valuation report, can it be issued to another bank?

Tom25

Background is I have a valuation from e-surv for my property issued to a bank A, however due to better terms I have been going through another application with bank B and they will also use the same surveyor (e-surv).
Can the valuation be reissued to bank B without occuring a full vaulation fee? Anyone sucessfully managed this? Asked the mortgage advisor at bank B and she couldn't help, but vaulation has been instructed and suveryor is due to contact me this coming week..thx

Mrs_Bumble

You need to find someone at bank b that can help, speak to the underwriters dealing with your application and ask if they are willing to accept the valuation carried out already, they might but will be at their discretion and they may charge an admin fee.

_Andy_

You need to speak to Esurv to see if they will amend who it's addressed to.

Mrs_Bumble

If bank b are willing to accept it, then that is what the admin cost will pay for, to be re-addressed to bank b, but if they are not willing to accept it ..

treliac

Don't have an exact answer to your question Tom. However, we have just taken HSBC's Ratematcher mortgage and were lucky to get away with just a 'desktop' valuation which, I believe, can be done if they can obtain a recent valuation figure for another similar property in the same area.

Anyhow, as a result of this we didn't have any charge for valuation at all. So you might be lucky. Fingers crossed!

crunchiechix

check with bank B if the surveyor is on their panel. If you have paid for the valuation then it should not be a problem to have the report transcribed onto the banks headed paper. Depending on the valuer there may be a fee.

Tom25

Thx to everyone, just to update.
Bank B underwriter was happy to accept the valuation done as it was less than 3 months old, just had to speak to bank A to get consent (wasn't a problem) and pay £44 to Surveyor to get the valuation retyped. Mortgage all sorted now.