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When will I find out if the property is down-valued?
AJayneC
Posts: 46 Forumite
Hi there!
I’m applying for a mortgage having had an offer accepted on a property. The valuation report landed back with the lender seven days ago and since then they’ve asked for a few more documents from me regarding my salary, job etc.
Question is: if the surveyor has down-valued the property would they decline my mortgage application / mention it to me straight away, or might they wait until they’ve finished all the assessments and then let me know?
Should I take their silence and continued assessment of my own documents as a good sign the valuation matched the purchase price or not?
Thanks for your help!
I’m applying for a mortgage having had an offer accepted on a property. The valuation report landed back with the lender seven days ago and since then they’ve asked for a few more documents from me regarding my salary, job etc.
Question is: if the surveyor has down-valued the property would they decline my mortgage application / mention it to me straight away, or might they wait until they’ve finished all the assessments and then let me know?
Should I take their silence and continued assessment of my own documents as a good sign the valuation matched the purchase price or not?
Thanks for your help!
0
Comments
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I would expect you would have heard by now if there was a problem with the valuation.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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Thanks very much for your reply!! Appreciate it.0
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