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Property valuation clarification
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danadanny
Posts: 57 Forumite
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
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
0
Comments
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usually yes, although some packagers do instruct on behalf of the lendersI am a Mortgage AdviserYou 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.0
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or unless you're in Scotland.....Number 86 - Stole a car from a one legged woman... I'm just trying to be a better person0
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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.usually yes, although some packagers do instruct on behalf of the lenders0 -
"Countrywide Mortgage Services" - the prosecution rests
they have their own surveyors, ask them for it backI am a Mortgage AdviserYou 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.0 -
Thank you for your advise, toonfish.0
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countrywide - notoriusly poor.. good luck.I am a Mortgage AdviserYou 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.0
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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.0
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