SOS - Timeframe for valuation - Woolwich

SunshineI

Hi everyone,

I'm in a tricky situation. In summary, the housing association is giving me 10 working days to get my valuation done. (Long story of the reason for this, happy to explain if it makes a difference)

If I submit tomorrow morning my application (I already have an agreement in principle) with Woolwich, do you think they will be able to carry out the valuation in 10 working days?

Thanks,
Reguina

kingstreet

No way of knowing.

That would depend on how quickly Woolwich instructs the surveyor and how quickly the surveyor can book the inspection appointment.

In some areas, you'll probably have no problem, in others you'll have little chance, due to simple lack of surveyors for the work which is out there.

SunshineI

Ouch... I don't know what to do... I'm based in London and the flat trying to buy in Lewisham...

But, is there at least a chance for that?

Would it make any difference to explain them the situation?

Wh05apk

London is a big problem area, I don't know about Lewisham, but Enfield currently has a 3-4 week delay, I can't see it being dramatically better.

ACG

It really does depend on where your from.

I submitted an application to Woolwich last week, the valuation was done yesterday (5 working days). - Liverpool
I submitted an application to Aldermore 2 weeks ago who also use eserv to do valuations and that was done in about 6 working days - Manchester.

So if your going off that, assuming you submit an application give them everything they need and dont require any additional info - 10 days to have a valuation booked in isnt unreasonable.

but it will depend on Woolwich and the surveyors. I wouldnt want to commit to 10 days but i wouldnt say its impossible.

SunshineI

This is a really complicated situation... I guess I will have to take the risk...
The thing is, they will charge their fees and if then they want to value the property in longer than two weeks there might be no property to value and I would have lost the fees as well....

From what I can read here, there seems to be no other option...

Thanks everyone for your comments, if someone else has additional ideas or different opinions please, do let me know!

Wh05apk

SunshineI wrote: »

This is a really complicated situation... I guess I will have to take the risk...
The thing is, they will charge their fees and if then they want to value the property in longer than two weeks there might be no property to value and I would have lost the fees as well....

From what I can read here, there seems to be no other option...

Thanks everyone for your comments, if someone else has additional ideas or different opinions please, do let me know!

TBH I think you have very little chance, London is a big problem at the moment, before you commit get your broker to speak to the valuers and get an indication of timescales for valuations, otherwise you will pay your fees and it could all be in vain.

classy69

I'm going through a Woolwich Mortgage application at the moment, and the initial application was made on 31st August, the survey was booked for the 11th September.

ACG

You can make an application and ask them to instruct straight away - although there could still be a wait, but if the valuation hasnt been carried out you may be able to request the funds back.