Scotland, do some lenders accept the Home Report Mortgage Valuation?

ellie27

We are in Scotland.

We accepted an offer on our house almost 3 weeks ago. We are expecting the buyers lender will need access to the property to do a valuation for their mortgage, but nothing yet.

Do some lenders accept the Home Report with the Mortgage Valuation, and not require a separate valuation by one of their surveyors?

Our valuation was carried out last week on our purchase property and I would have thought our buyers would have been a few steps ahead of us.

I have contacted my solicitor to see if he has any update on the buyers position but they are yet to get back to me.

I know I need to chill out a bit!
Thanks!

Jason_Bourne_2

The Halifax let me use the home report, they charged me £49 to type it up again which was much better that the £400+ for a new valuation.

The home report was only a couple of weeks old which helped as I think some lenders have a 3 month limit?

jennifernil

If the report was prepared by a firm on the lender's approved list then they would usually accept it.

amnblog

Home report is the way it is done North of the Border.

The reports are normally done by the big players like D W Hall.

The occasion catch is that they can be out of date and need to be rewritten.

AimiJ8

I am currently going through a very long winded process with Natwest who have the home report for the house I am hoping buying but are refusing to use this report due to fact I am buying lower than the market value!!! Now have to wait on a surveyor to survey the house. I think it depends on the lender.

Pixie5740

It can also depend on the LTV. As my LTV is 90% the lender might want to carry out another valuation. If they're happy with the home report though, they'll just re-type it.

ellie27

Our lender did not accept the home report for our purchase house. They have done the valuation, not heard anything of the valuation which was a week ago. Our LTV is 35%.

pamelab21

We are in Scotland and are moving and porting our mortgage with Britannia. They will not accept the home report mortgage valuation even though the surveyors are on their panel but they do offer a free basic valuation so not too much hassle for us.
We are around 53%LTV.
I think it all depends on the lender. Makes you wonder why we pay for a Home Report in the first place! Will also be very interesting if it comes out different to the home report one