remortgaging with Birmingham midshires lil help please :D

itsarichmansworld

We're re-mortgaging with Birmingham midshires and we had our survey today couple of questions I need answering but too embarassed to ask broker in case I look like a dumb !!!!

1. the surveyor was only here for 10 mins is this the norm?

2. I am paying for the survey but getting the money back when mortgage completes but they havent taken it off my account yet does anyone know roughly how long it takes?

Bit worried we wont get report if they dont take the cash?

Thanks in advance!

itsarichmansworld

bump? anyone?

Rick62

1. Yes, I'm assuming it was a mortgage valuation and NOT a survey. The two are completely different, although not many people realise. A survey means the guy is reporting on the condition of the property and his assessment of the value may. or may not, be part of that. A valuation is just that, a valuation and with no concern as to the consdition of the property unless an adverse condition has a material affect on the value. So all he needs to do is check that the property is as described, and looks in sound condition and then he will do some research on local prices to produce his value.

2. I'm surprised they didn't take the money before coming round, if they were going to. If the report is just a lenders valuation then you probably won't get the report anyway. It will go to BM in a couple of days so you shouild here from them mid next week.

itsarichmansworld

Thanks rick I thought it was strange as the last time we seen a survey took around 45 mins!

I know we get the fees back so unless they only wanted my debit card details for security!