Mortgage Valuation done without consent

The_J

You've paid £300 for something that told you you were about to overpay by £20,000 for something?

Yeah....I'd be !!!!ed too.

beetle12

I think most people are missing the point of my original question which is if I had not signed the paperwork agreeing to the valuation how can they go ahead with it? I mean why have a contract?!!

I definately was/am serious about the property but needed a couple of days to be certain - cant believe im the only person who has ever thought this! As I said I may well still go ahead with the sale and that has no bearing on the problem with the survey. Im not a timewaster as I truly love the house but due to health matters dont want to make the wrong decision (this is my one and only chance to move) and believe me I know how awful it is to have people pull out of a sale as ive had it done to me a few times over the years so would not consider doing it lightly.

Checked with mortgage broker and they say they cant go ahead without my permission so have opened an investigation - glad I didn't just let it go.

beetle12

The_J wrote: »

You've paid £300 for something that told you you were about to overpay by £20,000 for something?

Yeah....I'd be !!!!ed too.

Trust me cost a lot more than £300!

Thrugelmir

beetle12 wrote: »

I think most people are missing the point of my original question which is if I had not signed the paperwork agreeing to the valuation how can they go ahead with it?

When did you submit your mortgage application?

Dave_Ham

Whilst I have sympathy for your health considerations, you have honestly got this wrong.

I do not believe that you have an offer accepted on a house (after probably a lengthy price negotiation) and then give a mortgage broker all of your details and enough to submit an application. This does not need to be signed by the way and verbal instruction is enough.

Incidentally if your broker was the contractor broker you then recommend wholly in another thread in the last couple of days then this becomes even stranger??

Then it comes back as downvalued, your card would have been debited by the way and then you are "having a re-think" and think we have all been there - actually know, putting in an offer, removal from market, full application keyed, if they put in your mobile number most lenders would have texted you to say valuation instructed and then the wobble (when the valuation comes back)

If the investigation you mention is through the broker, they are likely just to be humouring you. No need to pat yourself on the back just yet.

I genuinely hope you get what you want/need, just thinking of the vendor and the other people in the process.

All the best

sockpuppet

Checked with mortgage broker and they say they cant go ahead without my permission so have opened an investigation - glad I didn't just let it go.[/QUOTE]

Eh? submitting the mortgage application and providing card details to pay for the valuation IS giving your permission - so dont quite undersatnd this??

DVardysShadow

sockpuppet wrote: »

.... Eh? submitting the mortgage application and providing card details to pay for the valuation IS giving your permission - so dont quite undersatnd this??

I have to agree. The survey is the lender's survey, so once you have given the lender an application, they can do their survey at your expense as an when they feel like it.