Mortgage survey fees

petesh

Perhaps some of you guys can throw some light on this. A recent mortage appication - Northern Rock - required me to agree they could take dosh from my account, for the survey, allegedly !!
NO costings was given on the form.
My bank statement showed they took vasts amounts of dosh for this survey.
Now surely it cant be right that a building society can simply take an unspecified amount can it ?


Pete

maninthestreet

petesh wrote: »

Perhaps some of you guys can throw some light on this. A recent mortage appication - Northern Rock - required me to agree they could take dosh from my account, for the survey, allegedly !!
NO costings was given on the form.
My bank statement showed they took vasts amounts of dosh for this survey.
Now surely it cant be right that a building society can simply take an unspecified amount can it ?


Pete

How much 'dosh' did they take?

redsclubbedup

so far as i am aware they are pretty set rates, depending on type of survey - they will have a basic one that you have to take, but there are also more detailed ones.

i have just aplpied to brittania, they said i could have a £150 survey done to satisfy them, however as the house is over 100 years old, we have had the full survey done at £630

Conrad

Valuation fees are shown on the key facts illustration all clients must recieve prior to application. The cost is based on property value, and on a £300,000 home would be about £350 from memory.

Mrs_Bumble

http://www.northernrock.co.uk/mortgages/costs.asp

dunstonh

Now surely it cant be right that a building society can simply take an unspecified amount can it ?

Correct. They cannot. So, its good to know that they dont do that. They tell you on their website but more importantly it is on the key facts illustration as mentioned above. The most vital document for you to read as it tells you in simple terms the costs you will incur and any potential negatives or risks.

Soot2006

Can you update with more info, OP?
We too recently made an application with NR.

They took £250 booking fee and £540 survey fee ...
Any other costs were added to our mortgage.

It was made very clear what monies would be taken and at what point they would be taken -- this was made clear by our broker, verbally, and also by the key facts thingy given to us.