Mortgage offer

livalicious · 9 April 2010 at 11:40AM

Good morning! Already posted this in housebuying, but might be better asked on here.

We in the process of buying of a house, and the broker at bank we applying for a mortgage with, informed me the mortgage offer was approved on Tuesday. This is where im confused because the vendor's EA told me yesterday that the surveyor was booked in to do a valuation only yesterday??

I thought that a valuation was usually done first and then the mortgage offer. Is it possible that the surveyor could have verbally agreed the valuation with the lenders without actually seeing the place (the vendors were away on holiday all week until yesterday, so I know for a fact he couldnt have gone round there before then.) Is this common practise?

Thrugelmir · 9 April 2010 at 1:08PM

Have you received an official mortgage offer letter?

livalicious · 9 April 2010 at 1:35PM

I was told the offer was confirmed on Tuesday and was sent to us and our solicitor. We havent received anything in the post, and the solicitor hasnt written to me to confirm they have (they usually send me updates by email). I spoke to the broker again this morning, to confirm if this was definitely the case, so she faxed me through the offer confirmation. It doesnt say anything about the valuation. It just states that the mortgage has been approved and the special conditions under which the offer has been made, which are just right of way, first charge on the property and different correspondence address.

magpiecottage · 9 April 2010 at 1:41PM

If the person arranging the mortgage is at a bank, I doubt he is a broker - he will be a salesman for the bank.

livalicious · 9 April 2010 at 1:46PM

Sorry, yes I mean the the advisor/salesperson at the bank who I have been dealing with throughout the process.

VIGILANT22 · 9 April 2010 at 1:47PM

Who is the lender?

livalicious · 9 April 2010 at 1:50PM

The Nottingham Building Society, we sent the application form off on 13th March and again on the 20th as they hadnt received it. They wrote to our employers last week and also said the valuation was instructed, but as it was bank holiday and the vendors were away the ea said the surveyor could only get into the property yesterday.