Valuation money taken but not booked?

heytink

We had our mortgage application submitted on Monday 5th, decision in principle received on 6th and valuation money also left our account that day. As of today though, no one has yet contacted the agents to book in the valuation.

Is this normal?
We know the vendor is quite keen for things to move quickly, does anyone know how long it generally takes for the valuation company to ring the estate agents after money is transferred?

kingstreet

It would help greatly if people would say which lender they are talking about when they ask such questions.

They all differ.

heytink

Sorry Kingstreet, its Virgin Money

kingstreet

Fee is taken at submission of application.

Case is assessed.

Valuation instruction is issued.

I'd say it's probably not been assessed yet, or the valuation instruction has been issued, but the surveyor receiving the instruction has not yet contacted the access details given on the application.

heytink

Thanks, broker let us know valuation had been instructed on Tuesday, just thought it a bit odd for the company not to have rang estate agents yet after 3/4 days? Maybe not though..

kingstreet

Sometimes it takes a while for the access call, sometimes it takes a while for the inspection to be done.

I get the impression most of the corporate survey firms are flat out at the moment. As an example, Colleys is refusing all outside non-lender introduced survey work at the moment so it can concentrate on lender valuations.