Valuation

Threebabes

Hello

The people who are buying our house, mortgage application has gone to the underwriters at their bank.

Does anyone know how long it take before they organise a valuation of our property? Or approx timescale etc.

Thank You

princeofpounds

2 weeks? 4 weeks? kind of depends to be honest.

Threebabes

Really that long ...

We applied for our mortgage and had our letter a week and a half later. I had wondered if this was quick because we are already with them.

princeofpounds

Often they will do a 'drive-by' survey (which probably means a trip to google maps in reality) and it could happen quickly and you'll never know about it. All the bank is really interested in is that the security exists and they aren't lending silly money against it.

It's obviously quicker if you are just converting the mortgage in principle into a firm offer, as the paperwork is largely done and so the phone call to the valuer is about all that is needed.

But sometimes a new application is needed, a site visit is needed, and the nearest surveyor might be busy.

So as I said, it depends.

firebird082

Ours was arranged on 1s May...for the 29th! Was pretty horrified at the time, was expecting it to be a few days (that was for the surveyor with entry to the property for the valuation).

Threebabes

Thanks everyone, so it could be soon but i could be a few weeks.

I will have to be patient lol.

FTB129

Mine was 6 weeks!!!

But my seller wasn't prepared to wait that long (as was waiting for that to confirm i wasn't another time waster)

Anyway i pushed and pushed for an earlier date and they our sourced it to another company and in the end happened 10 days later.:T