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Property valuation clarification

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Hi.

Can I confirm that the valuation/survey of a property is always conducted by the mortgage lender's appointed surveyor, regardless of whether the mortgage application is submitted directly to the lender or via a broker?

Thank you,
Danny

Comments

  • toonfish
    toonfish Posts: 1,260 Forumite
    usually yes, although some packagers do instruct on behalf of the lenders
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it.
    This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.



  • or unless you're in Scotland.....
    Number 86 - Stole a car from a one legged woman... I'm just trying to be a better person
  • danadanny
    danadanny Posts: 57 Forumite
    How do you determine if this is the case?

    Previously, I submitted a mortgage application through a broker from Bridgford Estate Agent (Countrywide Mortgages Services) to Halifax. I was then told by the mortgage adviser to pay a valuation fee of £295.

    Few moons later, I was told that my application was rejected. I called Halifax to request for a refund of the valuation fee but was surprised to hear that my broker did not pay them the valuation fee in the 1st place. In fact, no valuation was done on the property.

    Is this normal or I was in some kind of scam??

    kindly advise,
    thank you
    Danny.


    toonfish wrote: »
    usually yes, although some packagers do instruct on behalf of the lenders
  • toonfish
    toonfish Posts: 1,260 Forumite
    "Countrywide Mortgage Services" - the prosecution rests

    they have their own surveyors, ask them for it back
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it.
    This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.



  • danadanny
    danadanny Posts: 57 Forumite
    Thank you for your advise, toonfish.
  • homer_j_3
    homer_j_3 Posts: 3,266 Forumite
    countrywide - notoriusly poor.. good luck.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • danadanny
    danadanny Posts: 57 Forumite
    Notoriously poor in terms of?

    To be honest, I have a few complains about the services of the financial adviser.
    homer_j wrote: »
    countrywide - notoriusly poor.. good luck.
  • AndrewSmith
    AndrewSmith Posts: 2,871 Forumite
    All the Connells / Sequencehome chains are the same. They own Connells surveyors and, as such, try to charge the client for a valuation which can be instructed immediately (thus spending your money before the lender has even had a chance to look at your full application) regardless of whether the lender themselves charge a fee or not.

    Related thread here:

    http://forums.moneysavingexpert.com/showthread.html?t=394194

    The moral? Think carefully about using an Estate Agency mortgage broker, especially one employed by a large chain such as Countrywide or Connells/Sequence as they usually always have a hidden agenda regarding insurance or survey sales.
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