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Paid Natwest For Survey But...

13

Comments

  • justme111
    justme111 Posts: 3,531 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    To people who suggest bank does not provide survey services and just facilitates the contact with a surveyor - I am sure in your cases you have paid to a survey company , not to bank for that survey.
    The word "dilemma" comes from Greek where "di" means two and "lemma" means premise. Refers usually to difficult choice between two undesirable options.
    Often people seem to use this word mistakenly where "quandary" would fit better.
  • JQ.
    JQ. Posts: 1,919 Forumite
    justme111 wrote: »
    To people who suggest bank does not provide survey services and just facilitates the contact with a surveyor - I am sure in your cases you have paid to a survey company , not to bank for that survey.

    Nope, you wrong. They do not provide survey services. There is a conflict of interest for banks to employ surveyors.

    Surveyors have to accord to the RICS Valuation Standards (The Red Book) 7th Edition which requires them to be independent of Banks.

    The Bank pays for a surveyor to complete their own Valuation of the property you are wishing to mortgage. That is the banks valuation, which is for them and paid for by the borrower. For convenience and cost savings (they are larger buyers of these services and can get discounts) they then offer to arrange for the Surveyor they have employed to do the Valuation on their behalf to complete a Homebuyers Report or Full Structural Survey on behalf of the borrower. The client in this case is the borrower, the bank have just organised it. There will be Terms and Conditions contained within the report provided to the borrower, which includes a Complaints Procedure.
  • mufi
    mufi Posts: 656 Forumite
    Part of the Furniture 500 Posts Name Dropper
    anuvidy wrote: »
    Perhaps I was hoping that somebody else's experience might assist or inform my case.

    Difficult, as we don't know what the problem is. Are you unhappy with errors or inadequacies in the survey?
  • justme111
    justme111 Posts: 3,531 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    JQ. wrote: »
    Procedure.
    sorry not sure what i am wrong at
    in described above scenario a client pays to a surveyor, doesn't he?
    The word "dilemma" comes from Greek where "di" means two and "lemma" means premise. Refers usually to difficult choice between two undesirable options.
    Often people seem to use this word mistakenly where "quandary" would fit better.
  • JQ.
    JQ. Posts: 1,919 Forumite
    justme111 wrote: »
    sorry not sure what i am wrong at
    in described above scenario a client pays to a surveyor, doesn't he?

    Your original statement was wrong. You can pay the cheque to the bank but there remains a contractual relationship between borrower and Surveyor.
  • claretmatt
    claretmatt Posts: 224 Forumite
    I wonder how much Natwest creamed off the money paid?
    I am a Chartered Financial Planner

    A    nything posted on this forum is for discussion purposes only. It should not be considered financial advice as different people have different needs.
  • geoffky
    geoffky Posts: 6,835 Forumite
    your contract is with the bank..its thier problem..i had this with argos..i bought a laptop from them and it went wrong..they wanted me to comtact hp to get it fixed..i soon put them in the picture regarding contract law under the sale of goods act... your bank are trying it on..
    It is nice to see the value of your house going up'' Why ?
    Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
    If you are planning to upsize the new house will cost more.
    If you are planning to downsize your new house will cost more than it should
    If you are trying to buy your first house its almost impossible.
  • justme111
    justme111 Posts: 3,531 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    JQ. wrote: »
    Your original statement was wrong. You can pay the cheque to the bank but there remains a contractual relationship between borrower and Surveyor.
    Do you think he had any contract signed with a surveyor? Doubtfull for me as he did not even know who the surveyor was.
    I had booked a room through travelrepublic website, when i came to the town ( abroad) I had a good idea to phone a hotel, they have not heard about my booking, I stayed elswhere.
    I contacted travelrepublic who acted as an intermediary to another intermediary :D but they did not refer me to the provider of services or another intermediary, they returned me money as my contract was with them as they were the ones i paid to and dealt with. What's the difference with the op's situation
    The word "dilemma" comes from Greek where "di" means two and "lemma" means premise. Refers usually to difficult choice between two undesirable options.
    Often people seem to use this word mistakenly where "quandary" would fit better.
  • chambta
    chambta Posts: 2,770 Forumite
    Part of the Furniture Combo Breaker
    claretmatt wrote: »
    I wonder how much Natwest creamed off the money paid?

    It's in the KFI. £75 should be listed separately as a 'valuation admin' fee.
  • JQ.
    JQ. Posts: 1,919 Forumite
    justme111 wrote: »
    Do you think he had any contract signed with a surveyor? Doubtfull for me as he did not even know who the surveyor was.
    I had booked a room through travelrepublic website, when i came to the town ( abroad) I had a good idea to phone a hotel, they have not heard about my booking, I stayed elswhere.
    I contacted travelrepublic who acted as an intermediary to another intermediary :D but they did not refer me to the provider of services or another intermediary, they returned me money as my contract was with them as they were the ones i paid to and dealt with. What's the difference with the op's situation

    Because the op wasn't buying a holiday or TV. He was requesting professional advice on the largest purchase of his life. He needs a direct contractual relationship with that person so that he can sue them if something goes wrong.
This discussion has been closed.
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