Leeds Building Society - mortgage valuations

Soton85

Hi all!

We accepted an offer on our house about 7 weeks ago. We were told everyone wanted to move quickly to move before Christmas, which suited us as we're moving to a new build which is ready and technically we're meant to exchange within 28 days.

We're using the help to buy equity scheme, which added another level of paperwork before we could apply for our new mortgage. After all this, we received our mortgage offer 2 weeks ago.

Our buyer however still hasn't even had our house valued. He's using Leeds Building Society and have been told by the EA and his IFA that they'll be doing the valuation any day for the last three weeks. Does this ring true? Even if the surveyor is booked up, wouldn't the valuation at least get booked in as soon as it's instructed?

I'm getting really frustrated because our help to buy offer only lasts three months and it's already been one. The guy buying our house is downsizing so I can't imagine there being a problem with his mortgage, but who knows. Does this sound like someone is stalling, or can the process really take this long? Our estate agent told me weeks ago that his mortgage is all approved. Guessing that can't be the case if the valuation hasn't been done?!

Your opinions will be much appreciated!

kingstreet

Soton85 wrote: »

our help to buy offer only lasts three months

You have three months to exchange contracts.

You then have a further six months to complete.

Newbie78

We are waiting for the valuation of our house also with LBS, it's been delayed a bit but not 3 weeks! That does sound q bit random. Hoping to have ours done this week.

Soton85

Thanks for the clarification. But we can't exchange until our buyer sorts his mortgage and my main concern is that something is going on that we don't know about and we're going to end up having to find another buyer.

Soton85

Thanks Newbie78. Sorry, can't work out how to show which comment I'm replying to!

Ok so it sounds like maybe it can take a while. I just wonder whether anyone is really chasing it up.

csgohan4

7 weeks without a valuation survey or his own homebuyers/building survey done????

NO valuation survey. generally no mortgage offer

Give them an ultimatum and put the house back on the market

Newbie78

Soton85 wrote: »

Thanks Newbie78. Sorry, can't work out how to show which comment I'm replying to!

Ok so it sounds like maybe it can take a while. I just wonder whether anyone is really chasing it up.

We are good at the chasing bit I'm guessing someone isn't chasing on their side as they should give a day the valuation is booked.


We are also trying to get everything done before Christmas

Soton85

Newbie78 wrote: »

We are good at the chasing bit I'm guessing someone isn't chasing on their side as they should give a day the valuation is booked.


We are also trying to get everything done before Christmas

Good luck - I hope it all gets sorted soon!