Valuation done 15/5 still no news

LuckyG

I was under the impression that valuation reports tend to be reviewed within 48 hrs of receipt. Mine was done on 15/5 and I had a text saying it was received but I've not heard anything yet.
Nationwide did ask me for proof of gifted deposit in the meantime but I still thought I'd have heard about the valuation by now.

I know I'm being impatient and my MB has said it's quite normal to have a big wait in between a valuation being done and actually hearing about the results but that doesn't help me feel less anxious. Especially when I read about others having the results of their valuation straight away or the day after.

Anyone else experienced a long delay in between a valuation being done and actually finding out if it's satisfactory

Lilla_D

Based on your post, not sure when the valuation was received, but it's possible that the underwriters are busy. However, the broker may be able to get the result by asking for it over the phone. Lenders can normally tell us what the value came back as and if there's anything bad noted on the report.

Ps. based on their service level info, they are currently processing docs received up to 16 May, so dependent on when the valuation report was received, you should hear back in the next few days.

LuckyG

Thank you. The valuation wasn't done until the 15th May, I did get a text to say they'd received it but that's all.
I also had to send off proof of gifted deposit on 17th so I'm assuming they've not got round to looking at it yet then.

I think I worry too much

LuckyG

They received it on the 15th also, hopefully I'll hear soon.

nathyb1234

Our valuation was done on 12/05 and we received our offer just on 19/05.

LuckyG

Update today

Valuation is all fine and signed off (spoke to my mortgage broker). However I've not received a text from nationwide.
Mortgage broker advised that we are just waiting for proof of gifted deposit to be reviewed.