Is anyone else having timing issues with Woolwich?

meacynic?

The work is a DPC (Damp Proof Course) and bringing wiring up to spec -Earth bonding, and re-making some connections. The DPCwhilst nmot a big job, is invasive, and requires fixtures and fittings, radiators, cupboards, skirting boards etc to be removed prior to injecting the walls. After a drying out period, further work might then be needed to remove and replace plaster.

This is all standard stuff for old houses, but not something you do while two elderly people are living in it.

We offered to make a legal undertaking to do the work immediately on possession, or for the Bank to withhold/retain an amount until it was done, something which used be commonplace and which I have had before, but they would not do this. The reason being that the Surveyor had not put a current Market Value on the valuation, only a value after works are done.

They are not interested in discussing the value of those remedial works, or the fact that in the contract I have with both the bank and the Surveyor it CLEARLY states that a 'Market Value at the time of inspection is provided along with recommendations for remediation and cost, using their traffic light system'.

The Surveyor has repeatedly failed to give us, or the Bank, the Market valuation, so it is ZERO until such time as remedial work is done to their satisfaction, at which time the house value increases to £250,000.

I do understand the job of the surveyor, in this case the surveyor had two jobs to do - provide a valuation report to the lender, and provide me with a full building survey which I paid for; He has actually done neither. Neither I or the Lender have been given a Market Value at the time of inspection, which is in the checklist of things to be provided in the contract I have and in the brochure from the surveyors web-site.

This is what has caused the problem.

We are now speaking to other lenders, and taking legal advice on how to proceed with the Surveyor and Bank.

jellyfish76

To update... almost 3 weeks since valuation. No offer yet.

The in-branch MA is now on holiday so I'm having to chase up everything directly on the phone-line in India, as they query things in dribs and drabs. As someone said earlier, theres a lot of "call back in 48 hours"

The online tracker is a load of guff, it hasn't been updated since July.

jellyfish76

Just an update that I got my offer today. Application was placed on the 16th July... slow and painful process! I complained and got a goodwill payment though.