Survey before passed underwriters checks?

ashleypursglove

I am currently applying for a mortgage.

I went for my mortgage application with my partner and was told that because my partner did not bank with the lender, that our application would be reffered to the underwriters to check further information.

I was expecting for the underwriters to do thier checks, then once that was complete for the survey to be carried out.

As it happens the valuation money was debited from my account and the valuation done before the underwriters had the eployers survey for my partner.

Im just wondering if its normal practice for a survey to be done before the underwriters have finished thier check.

Im concerned that we will fail underwriter checks and then loose our money for the valuation/survey, despite there been no probs at all with the valuation.

Regards

Ash

ashleypursglove

51 reads and no response

Cazzr

You could phone them up and query this, it may be you've passed the underwriters but they haven't told you yet..


editted to say, sorry missed the bit about them not having your partners employer survey... But would still phone them as that would make sense to me too about them not surveying yet...

mic200202

This can happen.Some lenders wait until they complete all the paperwork then do survey last.At the time of application you can sometimes opt to hold the survey until everything else in in place.This depends on the route you used to apply and the actual lender.As your partner didnt bank with them,they cant trawl through their a/c's - for conduct, amounts going in,missed payments etc.

Sounds like they have gone for employers reference which may be asked for by some lenders if payslips aren't available.

ashleypursglove

Just called them again and they have ok'd the underwriter checks ( employee survey ) and have recieved the valuation and although it wont be officially reviewed until close of business today, the woman on the phone said the valuation came back at our offer price, so that should pass no problems.

They should be sending the offer out on Monday, which is actually 8 working days after my application.

Fairdo_2

Great news. Looks like you worried for nothing then!

It would have been scary if they had said no though, as the surveyor will have been bought and paid for.

Most Lenders now get most of the info before committing yours or their money.

Very good turnaround aswell. Well done.

Hopejack

Congrats on it going through so quickly - we've had a similar thing with HSBC although ours didn't go to underwriters (and we don't bank with them either?). It took us a week to get our offer too once they had all the paperwork. I've read on here so many times about mortgage offers taking forever to come through (it did for my buyer - FTB with the Halifax), but ours has been really quick luckily.