2nd Valuation

cassi_2

Hi,

I'm sorry this question is going to sound a bit basic.

I've applied for a mortgage and all was going smoothly till the valuation happened. The valuation showed the house was structurally unsound and with the amount of work needed no-longer viable to buy. I've got a secondary property of the same type/price I would now like to buy instead.

The question is what happens know. Does the lender do another valuation or do I need to apply for the mortgage all over again or do I have to arrange a valuation myself privately?

herbiesjp

Advise the lender that the first property has fallen through

You will need to give them the new property details

They will then need a survey done on the new property, so they will need to take payment of the valuation fee again

HTH