Melton BS Valuation

leahjones19

FTB going for a shared ownership mortgage
Application submitted 11/09/2018
Came back to request MOS which was sent the same day
Then asked for more bank statements etc and had a phone call with the lender where they asked any queries e.g. payments into account
Valuation instructed 27/09/2018 for 03/10/2018
Valuation yesterday and apparently they still don't have the report yet


How long does it usually take after valuation and seeing as the application has been through underwriting if the valuation is all okay does this mean I'll likely receive an offer?
The waiting is awful
Thanks in advance

leahjones19

Update: Found out on Friday that the property has been undervalued at 140,000 rather than the 159,500. It is a new build property and both the housing and my mortgage broker stated that there have been no other issues with valuations on the development as a whole and I am one of the last. Have to wait for Melton to assess this and come back by Wednesday but the broker is suggesting going with another lender at this point.
Any one had anything similar?

lindens

if you search this area of the forum you will find quite a few undervaluations on new builds and shared ownerships recently