Nationwide final offer granted - still have questions to ask

mrsmsebastian

Hi all, FTB here and we are now in the process of waiting for the final offer documents to arrive in the post, but I still have loads of questions hanging around in my head and I will appreciate of any infos.

1. Nationwide sent their own surveyor to do a valuation to the property we are buying. My questions are:  Do they check the structure of the house, any sign of damp and etc? Do they also include how much is the value of the property and is there a written report for it which I am thinking to ask for a copy. By the way, the survey was offered for free with the Lender so not sure if I can ask for a copy of the report though it is just a basic survey.
2. How long does it take for the final offer documents to arrive in post from the day I receive an email from them? Nationwide emailed me on 19th saying an offer has been granted.
3. All searches are done on solicitors end and once they have received the copy of the final offer from the lender, what is the next stage for them to do? Our deposit will be coming from HTB ISA, so would that mean they can instruct me to get a closing statement on my HTB? And how long does it take for them to process the 25%top-up from the government?
4. I really want to get this buying done as soon as possible, from where we are now do you think it is possible to exchange and complete by the end of the month?

Thrugelmir

The surveyor's role is to ensure that the property provides adequate security for the monies being advanced by the lender. 
As the buyer if you have particular concerns about the condition of the property employ your own specialist. Safe to say though that the property is structurally sound in order to receive a mortgage offer. 
With regards to exchange. End of the month very unlikely indeed. Liase with your conveyancer as to progress. 

What position are your vendors in? 

mrsmsebastian

Thrugelmir said:

The surveyor's role is to ensure that the property provides adequate security for the monies being advanced by the lender. 
As the buyer if you have particular concerns about the condition of the property employ your own specialist. Safe to say though that the property is structurally sound in order to receive a mortgage offer. 
With regards to exchange. End of the month very unlikely indeed. Liase with your conveyancer as to progress. 

What position are your vendors in? 

The vendors are very keen to sell, no chain and the house is empty.
Thanks for the reply

greatcrested

You're about to spend hundreds of thousands of pounds and seem to have the barest understanding of what's involved. I suggest you learn fast how the process works - there are whole books on the subject. Firing off a few random Qs, as and when they occur to you, is no substitute. eg

Help Me   or

Dummies

But to answer:

1) the Valuation is not a survey, it's a Valuation and it's for the lender-not you.You might/might not see it, if you do it will be very basic

2) Between 3 days and 2 weeks.

3) buying freehold or leasehold? Has the freeholder sent the Pack? Has the solicitor sent 'Enquiries'? Received replies? If this is  double dutch to you, buy a book!

4) Impossible to answer without knowing exactly where in the process you are, what is outstanding, what issues have arisen or might still arise, whether your solicitor gets COVID-19 etc etc  Yes, end of the month is possible but unlikely. There again, which month.......?

Sncjw

You do realise the bonus comes after you complete so doesn’t go towards the deposit amount.