Valuation to mortgage offer so worried

des123

MAFERGAL wrote: »

Mine is with Leeds BS also, valuation was done 2 weeks ago. They wanted another report done which I've since submitted but I'm also waiting for searches to be completed and all the other malarky that solicitors do. I'm no expert but I'm still thinking it will be at least another 3-4 weeks until I get the mortgage offer.
I assume all the legal searches etc. have been completed and their lender is happy with everything? I would like it if you could update when the offer from Leeds BS finally comes through and they release the funds and the full time scale from everything else being completed to that point to give me an idea how long I may have to wait...

what was this other report then they wanted and what makes you think its 4 weeks. ? did leeds BS say this to you ?or is it 4 weeks told by solicitor to you? .when you say theybare waiting for other searches is it the property your buying. i think mines all done . do they always require the searches to be completed before mortgage offer.?

yes i will defo keep you updated as this is very interesting topic for everyone on the waiting game from valuation to offer. im not the impatient type but just dunt everything falling through as we have gone such a long way from marketiing to this .

des123

no i dont want to hassel the buyer but his very laid back thats the problem and we have bought as well and i do not want to upset the upper chain either. our offer was submitted start of may and its taken this long is a long time . if you do not chase it could go on forever and ever

des123

would his broker be able to ring my buyers mortgage offer bank and ask them where they are at and speed things up ?

is this something his broker could do ?

skierskier12

des123 wrote: »

dso his solicitor can theoretically push and write the bank i suppose . Could i get my solicitor to contact his solicitor to do this ?

Hi, I am in a very similar situation to you with my buyer, who is my ex partner and already living in the house whilst I have already moved recently in rented accomodation. The valuation was done on the 13th of June, I know the application was sent off on the 18th of May, so that is almost a full month between application received and instruction for valuation.
All ok as the house is barely a year old and really well maintained so report came back fine. However, today is 3 weeks nearly after valuation ( 15 working days tomorrow ) and still no sign of an offer, even though I know he has been chasing his adviser, the response is always the same, the offer is on the way, the application is in progress bla bla
I have bought a new house and got my mortgage approved within 4 weeks (different lender to Leeds BS ) so i am getting very very frustrated and the vendors are like me, getting very fidgetty about the whole wait. I think all I can do at the moment is to keep my estate agent up to date on the progress of my sale ( for my vendor's reassurance ) and explain that once the offer from buyer is with the solicitor, all will be ok but I am also a natural born worrier

skierskier12

gazfocus wrote: »

I'm in the process of buying a house with a mortgage through a building society. Our valuation was carried out on 14th May and the report was posted to me on 15th May. However, our mortgage offer didn't come through until 1st June (even then, that was due to our mortgage advisor lodging a complaint with the building society).

Hi Gaz I did read your other thread last night on your worries. Now reading this one and your quote has made me realise that the BS in question must be notoriously slow ? I am worried as if I don't exchange on my sale, ( my buyer is using Lds BS ) I will loose my purchase ! I have my offer in place and all is ready !:mad:

skierskier12

des123 wrote: »

would his broker be able to ring my buyers mortgage offer bank and ask them where they are at and speed things up ?

is this something his broker could do ?

Let us know when you get some good news !!!

skierskier12

des123 wrote: »

would his broker be able to ring my buyers mortgage offer bank and ask them where they are at and speed things up ?

is this something his broker could do ?

Des123, I am not sure where you are up to but this is what I have just found out has happened with my buyer : his broker has sent the additional documents to the underwriters instead of sending them direct to the building society. Apparently the docs only just arrived and there is a 72 hour turn around for the post at the moment ( true, you can check on their standard service ) so the offer that was meant to arrive this week now won't be for me until next week..... another week wasted because of documents floating around and not being dealt with. You can now easily see how easy it is to waste a week or more in the process , perhaps you could ask your buyer to check with his/her broker whether the bs has all the necessary documents, if they have not and don't request them, the application could be left on someone's desk for weeks !!! Try to show patience and understanding with your buyer, I know it is frustrating, or I hope you are sorted ! Good luck if not yet sorted for you