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Valuation report missing- Solicitors form 1 Help to Buy

traz_uk
traz_uk Posts: 1 Newbie
in House buying, renting & selling
My solicitor was about to submit "Form 1" to help to buy to get authority to exchange, but we dont have a valuation report. My mortgage lender did a survey, but we dont have access to it as it's just for their records. Do I have to get an independent survey just to satisfy the requirement for this document or is there a way around it? 
Thanks!

Comments

  • MovingForwards
    MovingForwards Posts: 17,180 Forumite
    10,000 Posts Seventh Anniversary Name Dropper Photogenic
    What kind of survey did you actually pay for?

    If it's a valuation, then thats only for the lenders benefit.

    If it was a homebuyers or full survey, then you get to see it. As those reports go into a bit of detail about the property, what's wrong with it, what needs further reports etc.
    Mortgage started 2020, aiming to clear 31/12/2029.
  • Tiglet2
    Tiglet2 Posts: 2,718 Forumite
    Eighth Anniversary 1,000 Posts Photogenic Name Dropper
    Are you referring to the RICS valuation that you must obtain in order to redeem the Help to Buy Equity loan?  Sorry, it's not clear if you are redeeming or a new buyer.
  • PJBRFC
    PJBRFC Posts: 99 Forumite
    Sixth Anniversary 10 Posts Name Dropper
    If you are referring to redeeming your equity loan on the sale of a property it is made very clear that you must have an independent RICS valuation, which is at your expense. There is no way around this.

    Apologies if you're referring to a purchase rather than sale.
  • kingstreet
    kingstreet Posts: 39,445 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    traz_uk said:
    My solicitor was about to submit "Form 1" to help to buy to get authority to exchange, but we dont have a valuation report. My mortgage lender did a survey, but we dont have access to it as it's just for their records. Do I have to get an independent survey just to satisfy the requirement for this document or is there a way around it? 
    Thanks!
    All lenders are willing to provide a copy to a solicitor for HTB purposes. I can't think of one who doesn't. Which lender, please?
    I am a mortgage broker. You 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. Please do not send PMs asking for one-to-one-advice, or representation.
  • bucksbloke
    bucksbloke Posts: 440 Forumite
    Fifth Anniversary 100 Posts Name Dropper
    You need to get your lender to send a copy of the valuation to the Lender. We used a high street bank for our mortgage and they refused to give us the valuation but asked us to provide a fax number for our solicitor. They sent it the same day. 
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