Mortgage offer issued but valuation has wrong info!

Jaystarrr

I'm a ftb and purchasing a new property on a new street. Mortgage offered but my solicitor discovered the valuation left out the new road name.

Now I'm being told that solicitor can't proceed until that's corrected and she reassured me that my mortgage offer is still valid. I'm at my wits end as the valuation has already been amended twice before the offer issued and all times I've been told that the address is definitely correct.

My question is, how true is that? Can my mortgage offer still be valid even though the valuation has omitted details? I'm terrified of my offer being retracted again!

davidmcn

As long as the valuer can confirm to the solicitor that they're both talking about the same property I don't see the problem - it doesn't require the valuation to be reissued.

kingstreet

Which lender is this?

Who supplied the address? Does it match the reservation?

Is this a HTB - Equity Loan case?

Jaystarrr

Which lender is this?

Woolwich

Who supplied the address? Does it match the reservation?

The seller provided the address. They made the mistake with all the memorandum of sale issued to the buyers of the flats

Is this a HTB - Equity Loan case?

It's shared ownership. Lender is paying 77% of my share.

Jaystarrr

As long as the valuer can confirm to the solicitor that they're both talking about the same property I don't see the problem - it doesn't require the valuation to be reissued.

I am hoping it's just a case of the surveyor just changing the address on their valuation report and send it back but brokers have said it may take a little longer. It took me 2 weeks last time to get the address changed!

kingstreet

Each new development receives a list of postal addresses from Royal Mail ahead of construction. The builder will know what the postal address will be. They may not yet have shared this with the Housing Association.

You will need to ensure the MOS is 100% correct, the valuation report is 100% correct, as is the mortgage offer. There can be no variation in the full postal address. If any document is incorrect, the issuer will need to reissue it correctly.

Depending on proximity of legal completion, Royal Mail PAF search may have the correct full postal address;-

http://www.royalmail.com/business/find-a-postcode

Jaystarrr

Thanks for the link. I just checked it and it confirms that my solicitor was correct and the information on my mortgage offer, MOS and every other paperwork done for housing association has the wrong address. Housing association have amended all their details now it's waiting on the lender.

Here's to a stressful Christmas!

Jaystarrr

Another new piece of information. My housing provider confirmed the 'correct' address. It's the same address that my solicitor just told me is wrong. So what's the flipping address and who do I get mad at?


Oh my goddddd