Abbey/Santander application - Delay

soph_the_loaf

Hi all!

So today I got an 'application agreed' from the underwriters and notice that a valuation has been instructed. It says that the valuer will contact the agent within 72 hours if they need access to the property.

What's the next step? How long do valuations typically take to happen? Will I be told how much it's valued at? Does the offer then get posted?

Thanks,
Sophie

saraht1235

We've applied to Santander via MA after Natwest undervalued the property were buying from 205k to 185k - due to 'lack of comparisons'! :eek: So were trying with santander, stating value at 195k - the middle ground agreed by vendors.

We've sent all our docs off yesterday hoping this isn't going to be as painful as were anticipating. Hoping to hear back from underwriters in 5 working days - making that 15th, and with the wind in the right direction, survey completed by the 18th :S eeeeek!

pukkamum

soph_the_loaf wrote: »

Hi all!

So today I got an 'application agreed' from the underwriters and notice that a valuation has been instructed. It says that the valuer will contact the agent within 72 hours if they need access to the property.

What's the next step? How long do valuations typically take to happen? Will I be told how much it's valued at? Does the offer then get posted?

Thanks,
Sophie[/QUOTE
We got our agreed on thursday 10th, survey booked same day for monday morning, but it is a low price buy, so doubt it won't be extensive.

pukkamum

Doubt it *will* be extensive I mean.

soph_the_loaf

Does the date of the valuation show up on your tracking page? Mine just says it's been instructed.

Thanks,
Sophie

nick12

soph_the_loaf wrote: »

Does the date of the valuation show up on your tracking page? Mine just says it's been instructed.

Thanks,
Sophie

Not in advance of it happening, it will just say "valuation received" when done.

saraht1235

A few people have said that they are able to see where their application is up to via some kind of tracker page...what is this please and how do i get access to it?

kingstreet

saraht1235 wrote: »

A few people have said that they are able to see where their application is up to via some kind of tracker page...what is this please and how do i get access to it?

It's in an earlier page of this thread;-

http://forums.moneysavingexpert.com/showpost.php?p=65026246&postcount=144

pukkamum

We are done!
Had the bank valuation yesterday morning, mortgage offer received today!
To say we are pleased is a massive understatement, good luck to those still waiting.

HOMESWEETHOME

Exchanged today

Its been a big struggle the last few weeks due to my vendor/his solicitor and my solicitor. Very relaxed and very care free. No rush in the world what so ever and rather frustrating coming from London as all i know is fast pace boom boom boom

I would say we should have been here sooner and be in the property but this is life.

Move in on monday