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Nationwide valuation
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ric1982
Posts: 235 Forumite
Hi,
We have nationwide validation booked for our purchase 90% LTV. FTB.
The application was submitted last Friday. Yesterday I received info from my MA saying the application is submitted to underwriter and next minute survey is booked for next week Friday.
Do they do Desktop / drive by survey or do they visit the property?
I am just thinking would have been good idea to use home buyers survey as it forces them to enter the property and do the valuation rather then just drive by / desktop one which might reduces the chance for the lower valuation.
Thanks
We have nationwide validation booked for our purchase 90% LTV. FTB.
The application was submitted last Friday. Yesterday I received info from my MA saying the application is submitted to underwriter and next minute survey is booked for next week Friday.
Do they do Desktop / drive by survey or do they visit the property?
I am just thinking would have been good idea to use home buyers survey as it forces them to enter the property and do the valuation rather then just drive by / desktop one which might reduces the chance for the lower valuation.
Thanks
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Comments
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At 90% they will probably go in to the property but it may be a drive by. It does not sound like they are doing a desktop valuation.
If you want a homebuyers, then tell your broker sooner rather than later so it can be altered in plenty of time.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
I don't think that the buyer's survey that you can commission has any bearing/connection on/to the Lender valuation method.0
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At 90% they will probably go in to the property but it may be a drive by. It does not sound like they are doing a desktop valuation.
If you want a homebuyers, then tell your broker sooner rather than later so it can be altered in plenty of time.
Thanks I dont want to do home buyers just concern about affect of not entering the home on valuation hence..0 -
Some lenders you can request they go in. I am not sure if nationwide is one of them, we only really use them maybe once a month if that so do not know their processes well enough.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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I've done a remortgage with the Nationwide to borrow 40% of the value of my house. I've also bought a new property borrowing 60% of the value of the house. Both times they sent a surveyor to the property.0
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We had a valuation with nationwide and i think it was countrywide they used. Valued it around 20k under what we and everyone else seems to thinks it's worth.
Only made a small difference to the offer but we weren't impressed by the guy that came round.
Don't expect the price you want0
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