Valuation following mortgage application

joeistheone

I applied for a mortgage via a broker. As part of the application process with the broker, I said I would like to 'upgrade' the free basic valuation (offered as part of the mortgage product) to a Homebuyer's Report and pay the balance for that 'upgrade'.


Mortgage application has now been approved subject to survey/valuation, and the lender has instructed surveyors who have duly contacted the estate agent to book the survey.


I double checked with my broker whether the lender is aware that I wanted a Homebuyer's Report, rather than just the free basic valuation. The broker confirms that the lender is aware.


Now I would have expected that I would have been contacted by the surveyors to take payment/instructions for the type of survey to be carried out BEFORE they contacted the estate agents to book it - does anyone know what normally happens?

Thrugelmir

You'll pay the lender for the additional cost.

joeistheone

Thanks. I wasn't sure as I thought my recollection (when I was a first time buyer four years ago) was that I paid the surveyor directly. They then sent me their 'terms of engagement' before they released the Homebuyer's Report. Just not sure what has happened here or what the process is these days.

amnblog

It depends on the Lender as to how and when the payment happens.