Leeds Building Soc

Sheep

Hi,

We submitted an application with Leeds a week ago via a broker and today have found out that the valuation has taken place.

Do Leeds underwrite before or after the valuation?

Thanks

Sheep

Thrugelmir

Valuation is part of the underwriting process. All boxes need to be ticked.

System

Leeds do the affordability bit first then the valuation if you tick all the boxes with the initial underwriting.

Ring them up tomorrow they were really helpful when I did and said everything had been ticked off and we would get an offer pending valuation and we did.

Sheep

Thank you!

I am wondering if because the valuation has been done whether this now means Leeds have been through our incomings and outgoings, payslips, bank statements etc already.

I know Leeds are really picky when it comes to affordability and it is very tight for us so I was wondering whether we are over the scrutiny already if that makes sense.

System

I didn't think we would get accepted by Leeds as we have credit cards, car finance and my husband goes into his planned overdraft every month and we also have 3 dependents but they were fine.

I'd call them up tomorrow as they probably have your offer right there and can email it to you whilst your waiting for it to come in the post and if the valuation hasn't come back yet they can tell you if it's passed the affordability bit of the underwriting.

I'm sure you will get your offer as someone from Leeds told me they do the affordability first then the valuation if you pass so as long as the valuation is ok you will get an offer.

Sheep

Thank you Becky!