Scotland - House under offer, buyers lenders want a survey...whats the point?!

*Kat*

I mean, we paid for a home report already when we put the house up for sale. Why does the buyer's lender need another survey?

Is this in case we bribed our surveyors or something? I don't mind, I'm just annoyed because they put in their offer almost 3 weeks ago and we're still waiting for them to sign missives before we can continue with our purchase

davidmcn

Either your home report was done by a firm of surveyors which isn't on their lender's panel, or their lender routinely wants their own valuation. The Clydesdale seems to be fond of this, from my recent experience.

ellie27

Thats just the way it is.

Our purchase was the same although our buyers lender actually accepted the home report so I guess it depends who your lender is?

They offered 3 weeks ago and you are expecting missives to be signed already? Most folk on here take way more than 3 weeks to get their mortgage sorted so I dont think you are being reasonable expecting them to sign missives within 3 weeks of accepting their offer.

We accepted our buyers offer just short of 5 weeks ago and their mortgage has just come through. They should be signing missives next few days and their date of entry is 28th May.

Have you set an expected date of entry?

googler

davidmcn wrote: »

Either your home report was done by a firm of surveyors which isn't on their lender's panel, or their lender routinely wants their own valuation.

This.

(but I'd expect the survey to have been carried out way before 3 weeks)

G_M

I'm not familiar with the Scottish system but I doubt they can sign missives till they've got their mortgage in place.

And if the lender wants a survey, then.... let them do a survey. Why does it matter to you why the lander wants this? They do. End of.

What is the point in getting angry? Just chill.

Pixie5740

I'm in the process of buying a flat and even though the lender has a copy of the home report they still want to do their own valuation. I think this is possibly because I want a 90% LTV mortgage and/or because I'm paying £10k below valuation which is almost unheard of in Aberdeen.

My solicitor is doing her due diligence by not getting me to sign the missives before the mortgage is in place.

Beancounter

G_M wrote: »

I'm not familiar with the Scottish system but I doubt they can sign missives till they've got their mortgage in place.

And if the lender wants a survey, then.... let them do a survey. Why does it matter to you why the lander wants this? They do. End of.

What is the point in getting angry? Just chill.

Santander tried to pull that stunt with me recently, charging me £330 for a valuation. It wasn't till I spoke to the vendor and he told me they hadn't actually carried out a valuation that I complained and received a £330 refund.

Beancounter

Pixie5740 wrote: »

I think this is possibly because I want a 90% LTV mortgage and/or because I'm paying £10k below valuation which is almost unheard of in Aberdeen.
.

10K below in Aberdeen? Wow! Well done!

I thought I was bad marketing my flat at 4K under!:D

MrsDB

The lender may request a valuation like the others have said or the buyer wants a more in depth survey/structure etc

We have just had our missives concluded this week and was just over 6 weeks between the offer and the missives being done