Another question about Accord regarding valuations...

dinealone

So we were just told by our broker that Accord have instructed the valuation to be carried out which should be booked with the builders as soon as there is availability.

I was told that Accord, like Santander/Abbey, do not instruct a valuation until they have completed the underwriting of the application... which in turn obviously means this is very good news because unless the valuation reveals an issue which is highly unlikely I think, we should get an offer, right?

Can anyone confirm this?

dinealone

Bump. Anyone, please?

amnblog

Even where lenders do underwrite financially before valuation, they still carry out final checks and audits after valuation so you cannot guarantee any offer until you have seen it and checked it.

koexelek

amnblog wrote: »

Even where lenders do underwrite financially before valuation, they still carry out final checks and audits after valuation so you cannot guarantee any offer until you have seen it and checked it.

This is true.
From my experience, Accord will sometimes do the survey before they are 100% satisfied with everything else, but Santander won't.

Reason Santander do survey last is that they normally pay for it to be done on the clients behalf, so don't want to waste their own money.

If the client is paying for the survey up front, lenders are happy to instruct it straight away, as it is your money at risk, not theirs