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We don't want a survey, Are we stupid?

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  • adonis10
    adonis10 Posts: 1,810 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    flambo33 wrote: »
    I thought this also while we were applying for our mortgage, however there's nothing in the conditions of the mortgage offer, at least on ours. It's with nationwide. Who's yours with & is it on your mortgage offer?

    HSBC, and yes we had to have it. Was the best monthly fee mortgage we could find so I guess it balances out over the term, works out at £13.28/month over the 60 month fixed term. Pretty sure other quotes were more than that so guess it all balances out.
  • flambo33
    flambo33 Posts: 46 Forumite
    Sixth Anniversary 10 Posts Combo Breaker
    Clutterfree wrote: »
    I believe Nationwide do a free valuation but it's more to protect their interests than yours!

    I don't suppose you know if it's compulsory to get a mortgage with them? I'm guessing it isn't as i can't find anything online
  • Clutterfree
    Clutterfree Posts: 3,679 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker Photogenic
    flambo33 wrote: »
    I don't suppose you know if it's compulsory to get a mortgage with them? I'm guessing it isn't as i can't find anything online

    Our mortgage was with them and we had to have a valuation (free) but this was several years ago.
    I would think it is compulsory because if you are borrowing say 200k they want to make sure the property is worth at least that.
    :heart: Ageing is a privilege not everyone gets.
  • Waterlily24
    Waterlily24 Posts: 1,328 Forumite
    Part of the Furniture 1,000 Posts
    We haven't had one since we've been mortgage free, last three properties.
  • Clutterfree
    Clutterfree Posts: 3,679 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker Photogenic
    According to this, http://www.nationwide.co.uk/~/media/MainSite/documents/products/mortgages/Home-mover-mortgage-infographic-P2656.pdf
    I'd say yes they will do a valuation (step 2).
    :heart: Ageing is a privilege not everyone gets.
  • adonis10
    adonis10 Posts: 1,810 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Waterlily24 wrote: »
    We haven't had one since we've been mortgage free, last three properties.

    Aah, the dream. Been mortgage free for the last 3.5 years on my flat, reverting to being mortgaged is going to be painful. Overpay, overpay, overpay!
  • flambo33
    flambo33 Posts: 46 Forumite
    Sixth Anniversary 10 Posts Combo Breaker
    Clutterfree wrote: »
    According to this, http://www.nationwide.co.uk/~/media/MainSite/documents/products/mortgages/Home-mover-mortgage-infographic-P2656.pdf
    I'd say yes they will do a valuation (step 2).

    Ohhh sorry, I wasn't clear. I mean would a structural survey be compulsory? even if not mentioned in the offer?
  • adonis10
    adonis10 Posts: 1,810 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    flambo33 wrote: »
    Ohhh sorry, I wasn't clear. I mean would a structural survey be compulsory? even if not mentioned in the offer?

    Pretty sure structural surveys aren't compulsory, just a valuation. May be wrong though.
  • Clutterfree
    Clutterfree Posts: 3,679 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker Photogenic
    flambo33 wrote: »
    Ohhh sorry, I wasn't clear. I mean would a structural survey be compulsory? even if not mentioned in the offer?

    I don't think so unless anything major came up in the valuation that they felt needed further investigation.
    :heart: Ageing is a privilege not everyone gets.
  • flambo33
    flambo33 Posts: 46 Forumite
    Sixth Anniversary 10 Posts Combo Breaker
    Clutterfree wrote: »
    I don't think so unless anything major came up in the valuation that they felt needed further investigation.

    Thank you. :)
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