Mortgage Valuation Advice

Smiley1987

kingstreet wrote: »

Are these mistakes on the valuer's report, or has the wrong valuation been added to your application file?

The address is correct as is the price - so i'm not sure.

The lender is refusing to lend us the money until the valuation is sorted - everyone involved is sure this is a mistake.

The seller is being very co-operative and is willing to contribute towards any costs, can he ask the developer/NHBC for proof it hasn't been underpinned?

Thanks

kingstreet

If there are mistakes on the report and comments may be attributed to a different property, it needs to be corrected by the surveyor.

Have you, or has your broker got a copy of the report? If so, someone needs to contact Nationwide and ask them to investigate comments which (in the case of the tree report) can't possibly apply to the property in question.

I assume it's Countrywide? You could always take it up with their office in Swindon, which deals with all the Nationwide work, if Nationwide don't resolve the issues.

Proving it hasn't been underpinned? Why not wait until Nationwide asks for that, or suggests an alternative? Someone could ask the surveyor why he isn't requesting a structural engineer's report. That's the usual way to establish the effectiveness of, or reasons for, underpinning.

Smiley1987

kingstreet wrote: »

If there are mistakes on the report and comments may be attributed to a different property, it needs to be corrected by the surveyor.

Have you, or has your broker got a copy of the report? If so, someone needs to contact Nationwide and ask them to investigate comments which (in the case of the tree report) can't possibly apply to the property in question.

I assume it's Countrywide? You could always take it up with their office in Swindon, which deals with all the Nationwide work, if Nationwide don't resolve the issues.

Proving it hasn't been underpinned? Why not wait until Nationwide asks for that, or suggests an alternative? Someone could ask the surveyor why he isn't requesting a structural engineer's report. That's the usual way to establish the effectiveness of, or reasons for, underpinning.

Yes I have a copy of the report. We went directly to Nationwide, no broker.

I've tried speaking to Countrywide - they will only speak to Nationwide

Was promised an update today, but heard nothing from Nationwide...:mad:

Smiley1987

Found out about 5pm on Friday it was a mistake have a corrected valuation now.

Just waiting on the formal offer - seems to be taking ages

Thanks everyone for your advice

Smiley1987

Now waiting to exchange! Signed all the paperwork and paid the solicitor on the 7th - an outstanding query from the seller's solicitor about the house he's buying is delaying things now .

Is there anything we can do to push things?

Just want to get moved in!!!

kingstreet

Frankly, no there isn't.

Presumably you have all agreed a completion date. Exchange will take place as soon as this issue is resolved and if there's a decent gap to completion, it may still be possible on the agreed date.

Smiley1987

no completion date - basically we're ready to exchange and he will be once the outstanding query is sorted.

Just more waiting - worst thing is knowing there's nothing we can do

kingstreet

If you haven't agreed on a completion date, you can't exchange contracts. That's what exchange does. It confirms the completion date and sets it in stone, so to speak.

TBH many solicitors won't discuss completion dates until all the checks and enquiries are completed. You may have such a firm.

All you can do is answer any issues as quickly as you can and hop others in the chain do the same...

lee111s

My solicitor asked for a rough date when I first instructed them. When I went in to sign the paperwork last week I told them I want to complete on 26/03 to which she's aiming for.

My situation is a little easier than most though, I'm a FTB purchasing an empty property as the vendor and his wife are splitting up. Can't see any reason why they wouldn't agree to my completion date as they wanted a quick sale.

JimmyTheWig

Smiley1987 wrote: »

Is there anything we can do to push things?

Phone the estate agent and your solicitor.
Find out from them what is waiting to happen and when it should have happened by.
Then when that time is up, phone again and check if it has happened.