surveyor require valuation after building complete

Lemontea

Bought an off-plan apartment, the completion date will be February. The serveyor has done a valuation on 23 December. Two weeks later, my mortgage advisor tell me the serveyor need a cladding report. After I emailed them the cladding report and a certificate issued by local council, they finally accept it. But said they need do another valuation after the building completed.....

Now the problem is: First, the developer only gives me 3 weeks to complete( pay the funds and checked fund resource etc.) once the property is ready. Time will be extremely limited for the serveyor do valuation and release mortgage offer by then. Second, if they refuse me after valuation, I won’t be able to lend from anywhere else. Because no time left.

I called mortgage advisor and she said this re-valuation requirement is normal as my apartment is new build. But my solicitor said “ it is not usually the case that the surveyors require the building to be complete prior to doing the valuation. We receive mortgage offers all the time for new build properties that are incomplete”.

I really don’t know what to do now. Does anyone had same experience? Please please give me some advice. Thanks!

[Deleted User]

There are a couple of new build specialists on here that hopefully will come along but personally I side with your solicitor. I've had offers on property barely out the ground and they haven't had to reval unless offer expires.

What lender?

Lemontea

Thank you for replying. It’s Lloyd’s, the valuer is e.surv.

Lemontea

@Deleted_User , thank for replying, it’s Lloyd’s and serveyor is e.surv

asm89

I think you may still get the mortgage offer but it may just subject to another valuation at completion of the building as a condition of the offer.