Mortage Broker Info What Do You Think?

RAINBOW123_3

Hi

Ive posted this on another thread but I think it was on the wrong one so Im hoping that its now on the right one.If not, I do apoligise.

Could anyone let me know what they think of the following,its from my buyers mortgage broker.Bearing in mind that Im the seller.


Here it is as follows:

"The Abbey have everything and there is nothing outstanding,I have checked online on the Abbey system & a mortgage offer will be issued within the next 3 days as it is with the underwriters at present which means that the valuation should be definately done today or tommorrow (bearing in mind that this email was sent Weds 9th Sep,last week).

blah blah blah so please rest assured the offer will be issued soon.

My question is:

1.Where they have said "a mortgage offer will be issued within the next 3 days" does this mean that they could of done a drive buy valuation because we the sellers have not had anyone come into the home ?

2.I thought a mortgage offer comes after a survey has been carried out

Would do you make of this?

purplebuzz

I think that the mortgage broker is reading into what Abbey's online system is saying.

By the system saying that a mortgage offer will be issued in 3 days, they are presuming that the valuation will be done by then. Seeing as this 3 days has passed your buyer should have had their mortgage offer, presuming that a driveby valuation was done, which at the moment there is no way to tell.

TBH you don't really know how long Abbey's system has been showing the same information, it could have already been longer than 3 days.

A mortgage offer would not be issued without the valuation being complete, so either a driveby / internet one has been done, or it has not been done yet! (Which to me seems more likely - sorry!)

Can you not get any more information from your buyer's mortgage broker now, seeing as 3 days has passed and then they can chase Abbey if neccessary.

jill2002

Abbey would not normally do a 'drive by' or internet valuation on a purchase of a property - only certain remortgages.

RAINBOW123_3

Thank you Purplebuzz & Jill2002.

I think you might be right that the same info on the online Abbey system has been there for a while as its now the fourth week that the mortgage broker has said each week that its going to be done.

I know that our estate agents is chasing it all up as he is really annoyed that hes being told its going to get done & it dont.

We sold in July.

Jill2002.

Do you think the same info has been on the system all the time thats why we keep getting told each week that its going to be done?

With a mortgage valuation what do they look for when they come round?

Hope you can get back to me.