mortgage valuation survey? not sure if I've had a proper survey

toonfish

you were told a basic survey would be done, which it has and they deemed the property is worth the money. I don't see the problem. If you are bothered C&G will let you have the valuers details and you can speak to them if you have concerns.

For what it's worth I think homebuyers reports are next to useless as well. If you know a builder take him round there for 30 minutes and buy him a drink afterwards - much more likely to get a sensible response rather than the "flaking paint on the bathroom windowsill", "evidence of mould in shower cubicle" rubbish that the surveyors come up with.

tucbiscuit

been in to the mortgage broker, said I wasn't made aware it would all be so cloak and dagger, my problem is I started off at one branch of Countrywide morgage broker for my initial 2 meetings, then the estate agent I am buying the house off has a branch of Countrywide in their office, so I continued with the broker there as it is at the end of my road and a lot of the stuff that was said to me was by the first guy so I don't really have any come back


the current mortgage advisor phones C&G while I was there, but no joy, I did speak to them and they said there were no major faults and the house was worth the £140,000 I am paying for it....apparently the mortgage advisor is going to speak to her boss and see if he can do anything regarding getting me a copy, but I don't hold much hope

the attitude from C&G was 'computer says no' to everything I asked, the problem is I am a first time buyer with a 100% mortgage and theirs is the best deal, so I don't have much room for saying "Well I'll just go elsewhere"

Now I need to decide whether or not to get an independant survey done

homer_j_3

I find homebuyers reports great - often because of their slightly picky problems to justify them they can down value a property and this is a great negotiating tool for buyers.

Means they have to borrow less but hey a client loves you when you have just saved them a few grand for spending a few hundred quid more.

homer_j_3

tucbiscuit wrote: »

been in to the mortgage broker, said I wasn't made aware it would all be so cloak and dagger, my problem is I started off at one branch of Countrywide morgage broker for my initial 2 meetings, then the estate agent I am buying the house off has a branch of Countrywide in their office, so I continued with the broker there as it is at the end of my road and a lot of the stuff that was said to me was by the first guy so I don't really have any come back

Countrywide = 9 lenders on their panel (in our area anyway). No wonder they were shocked that not all lenders worked the same.....Avoid like the plague in future!

the current mortgage advisor phones C&G while I was there, but no joy, I did speak to them and they said there were no major faults and the house was worth the £140,000 I am paying for it....apparently the mortgage advisor is going to speak to her boss and see if he can do anything regarding getting me a copy, but I don't hold much hope

The C&G have given you the information that a basic survey would have given you. The only thing missing from what I can see it the reinstatement value for insurances and I am sure that comes on the mortgage offer.

the attitude from C&G was 'computer says no' to everything I asked, the problem is I am a first time buyer with a 100% mortgage and theirs is the best deal, so I don't have much room for saying "Well I'll just go elsewhere"

I think thats a bit unfair to be honest - the C&G have given you information when requested and as there is no retention, there isnt anything that has been deemed as detrimental to the property. Is this your mortgage adviser telling you that they think its unfair to gloss over the fact that you were not given the correct information by them?

Now I need to decide whether or not to get an independant survey done

That is down to you or you could ask for the EA if they have any contractors that will do a free damp, timber and roof report for you just for peace of mind and if they can get an electrician to get you a electrical report done (£50-£100 normally). Will be cheaper than a homebuyers report and will give you peace of mind that the main issue concerning a property have all been covered?

payless

Maybe best to read http://www.cheltglos.co.uk/valuationFees.html

and see where you fit in, no copy for remortgage or on their special range FTB products ( where no val fee .. , don't quote me think only 1 in that range at moment although FTB can access other rates with the normal fees ) but in other cases they say you should get one

Errata

The survey you're trying to obtain might not give much detail, other than the property is worth what is being lent on it. If you get a copy it may not tell you that there is woodworm in the spare bedroom floarboards, covered up by sellers carpet, that the wiring in places has been done incorrectly and is dangerous, that the boiler doesn't work properly etc etc (your favourite nightmare here !).

toonfish

Errata wrote: »

The survey you're trying to obtain might not give much detail, other than the property is worth what is being lent on it. If you get a copy it may not tell you that there is woodworm in the spare bedroom floarboards, covered up by sellers carpet, that the wiring in places has been done incorrectly and is dangerous, that the boiler doesn't work properly etc etc (your favourite nightmare here !).

The problem is that a homebuyers report wouldn't tell you these things either - they won't lift floor coverings, inspect any wiring or test the boiler!