Mortgage Booking Fee pre/post valuation?

kmills89

Hi All,


I've just been accepted by HSBC subject to valuation - the underwriter told me voer the phone that the offer will be for the full amount I requested - hurray!


My concern is that I now have to pay the £999 booking fee to secure the mortgage rate before accepting the offer, however I'm worried about paying this non-refundable amount then the valuation coming in lower than expected.


Does anyone know whether Countrywide Surveyors tend to value low? Or whether I can pay HSBC the fee after the valuation results are in?


Thanks as always for your expert advice

davilown

kmills89 wrote: »

Hi All,


I've just been accepted by HSBC subject to valuation - the underwriter told me voer the phone that the offer will be for the full amount I requested - hurray!


My concern is that I now have to pay the £999 booking fee to secure the mortgage rate before accepting the offer, however I'm worried about paying this non-refundable amount then the valuation coming in lower than expected.


Does anyone know whether Countrywide Surveyors tend to value low? Or whether I can pay HSBC the fee after the valuation results are in?


Thanks as always for your expert advice

I'm a few days behind you but I think the offer needs the fee paid first before the valuation. I know the valuation fee needs paying before they value as well (also if you've included a survey that needs paying in advance)

Well done on the mortgage offer as well!

kmills89

Called HSBC to check - they said it's fine to wait until after the valuation and survey has been completed before paying teh booking fee.


Paid the fees for valuation and homebuyers surveys yesterday and they've now been booked for next Weds


Hopefully your result wont be far behind!

davilown

kmills89 wrote: »

Called HSBC to check - they said it's fine to wait until after the valuation and survey has been completed before paying teh booking fee.


Paid the fees for valuation and homebuyers surveys yesterday and they've now been booked for next Weds


Hopefully your result wont be far behind!

Funnily enough I got a text about 2 hours ago saying all good and valuation will phone shortly! Good to hear about the fees - I leave off paying until the valuation and surveys been completed!

davilown

Just had the valuation sent to the underwriters - when I logged in online, I had to pay the £99 fee prior to receiving the mortgage offer