Report & Valuation for Mortgage Purposes

Fire_Fox

BaysideBlue wrote: »

Hi Firefox,

The comments in brackets are my definition of his report, a mortgage valuation by the way. He said there has been historical movement but nothing recent and said a full structual survey would not be required.

My EA said C&G and HSBC were the 2 lenders who are the most problematic in releasing funds. They have said there is no retention of any kind, they will not lend £63k until the work is done. I personally feel like letting the house go but don't want the sale on mine to fall through (reduced by 25% over 18 months) and their is nothing else on the market in our price range that fits our criteria. Our current house was in worse condition structually/cosmetically when bought 14 years ago and never had anything like this.

Why have you only had a mortgage valuation carried out on an eighty year old property? How can the surveyor be recommending treatment of timber and damp defects that you say don't exist? Have you had a builder in to look at roof and in the loft, or do you just think it's fine because it looks ok to you from the outside? I'm struggling to understand why you appear to think you know more than a qualified surveyor.

brixham

Why not try getting a PROFESSIONAL roofer to look at the roof and do you a report on any URGENT work needed, same for the damp.
I had this with a old property. Get all the trades in to look at their area of EXPERTISE
IMHO these people will know more about these areas than a surveyor.

BaysideBlue

Sorry, didn't realise their were other surveys?. Paid £300 for a "survey" through Lloyds Tsb/C&G as part of the mortgage application. Why wasn't it mentioned that this was just for for a valuation not a warts an all in depth survey?. Bought a 40yr old house 15 years ago and never had any of this. How much is a full survey on average anyway?

Fire_Fox

BaysideBlue wrote: »

Sorry, didn't realise their were other surveys?. Paid £300 for a "survey" through Lloyds Tsb/C&G as part of the mortgage application. Why wasn't it mentioned that this was just for for a valuation not a warts an all in depth survey?. Bought a 40yr old house 15 years ago and never had any of this. How much is a full survey on average anyway?

The bank isn't there to babysit you! :rotfl: The mortgage valuation is for the bank's benefit, to ensure they aren't investing in a complete turkey: a full structural survey or Homebuyers Report is for your benefit. Read the RICS website to see what one covers, and speak to local surveyors to get a quote as costs vary widely.