nationwide mortgage app

linzijoy89

Just after an opinion on nationwide mortgage apps. We were going with leeds however were faced with an under valuation. We are now going with nationwide an wondered how others experiences had gone. Our htb expires on 31/8 so hoping it goes through quickly an easily as had nothing but issues with leeds.

Thrugelmir

What are going to do if the same surveyor is appointed?

kiddakidda

Thrugelmir wrote: »

What are going to do if the same surveyor is appointed?

It is possible, you could find yourself in the same situation in a couple of weeks:(

Did you challenge the Valuation?

linzijoy89

We were told we couldnt challenge the value from the leeds and best thing was to go with another lender. Would different banks use the same surveyor? Surely they wouldnt advise us to do this if they could use the same surveyor? If it does happen then obviously the house is not for us

amnblog

The same valuer can be appointed.

Perhaps the property is overpriced anyway?

kingstreet

Nationwide's valuation panel manager is Countrywide surveyors, so there's a very good chance you'll get a Countrywide surveyor on any Nationwide application.

You need to establish which firm was "panelled" the Leeds inspection.

linzijoy89

How could I find out who leeds panel is? I thought a big bank like nationwide would have there own surveyors? What would happen if we get another under valuation? I dont think a firm like barratts would lower the asking price.

kingstreet

Nationwide does have some surveyors, but they tend to work on specific stuff like newbuild where the lender may be close to its maximum lending for that site. Countrywide handles the management of the panel and does most of the valuation work itself, sending it outside only when too busy, or if no cover in that area.

You'd need to ask Leeds which surveyor carried out the valuation. If you used a broker, the broker probably already knows from when he worked on the downvaluation.

amnblog

linzijoy89 wrote: »

How could I find out who leeds panel is? I thought a big bank like nationwide would have there own surveyors? What would happen if we get another under valuation? I dont think a firm like barratts would lower the asking price.

A developer will charge you what they can get away with.

It sounds like they are getting away with charging you more than the place is worth.

linzijoy89

None of the other houses on the development have been down valued, we have friends who have brought on the same development. I have the valuation report would it have on there who conducted the survey? Everything is very negative feel like I am going to end up disapointed. And as a first time buyer I have little idea as to what to do to still be able to buy this house.

wolfplayer

linzijoy89 wrote: »

None of the other houses on the development have been down valued, we have friends who have brought on the same development. I have the valuation report would it have on there who conducted the survey? Everything is very negative feel like I am going to end up disapointed. And as a first time buyer I have little idea as to what to do to still be able to buy this house.

Offer less than the asking price? Markets change. Some report from Rightmove reported another monthly asking price fall. I think that's 2 months in a row. You might not have to pay as much as your friends on same development, unless overpaying makes you feel good.