EWS1 form

robtam

Hi all
Can ask for some advice I’m pre-exchange. My broker was asked for an EWS1 form and sent back what she thought was appropriate as she has arranged mortgages for other plots on this development. We had a desktop survey that had come back with ZERO requesting EWS1.  This was sent on Monday and 1 week later there is still no valuation... when would you start to worry. 

My deadline to exchange is on Monday 😯

GDB2222

Who has set this exchange deadline? And what do you think will happen when you don't meet it?

“I love deadlines. I like the whooshing sound they make as they fly by.”

robtam

Deadline set by the house builder - no idea about consequences 

davidmcn

robtam said:

Deadline set by the house builder - no idea about consequences 

I've got a fair idea that absolutely nothing will happen. There's hardly likely to be a queue of other buyers eager to snap up your plot.

GDB2222

The EWS1 form - is that provided by the developer? It's a certificate about external cladding, and it would be crazy for every flat to get their own.  Or have I misunderstood?

"I've got a fair idea that absolutely nothing will happen. There's hardly likely to be a queue of other buyers eager to snap up your plot."
Exactly.

davidmcn

GDB2222 said:

"I've got a fair idea that absolutely nothing will happen. There's hardly likely to be a queue of other buyers eager to snap up your plot."
Exactly.

...especially one which currently has a deemed market value of zero....

robtam

Yeh - what should I do if the Home Builders call me on Monday and put loads of pressure on me?!

[Deleted User]

robtam said:

Yeh - what should I do if the Home Builders call me on Monday and put loads of pressure on me?!

If the broker has done other plots on the site then its likely they have a working relationship of some sorts with the developers.  If I was in your shoes i would say something like:

'No idea whats going on.  The broker is doing the finance bit and the solicitors are doing the legal bit.  Can you speak to them to figure out how to sort out the last remaining points'

robtam

Deleted_User said:

robtam said:

Yeh - what should I do if the Home Builders call me on Monday and put loads of pressure on me?!

If the broker has done other plots on the site then its likely they have a working relationship of some sorts with the developers.  If I was in your shoes i would say something like:

'No idea whats going on.  The broker is doing the finance bit and the solicitors are doing the legal bit.  Can you speak to them to figure out how to sort out the last remaining points'

 I think this partly the brokers fault. The surveyor asked for these details. She had something on file from previous plots.... sent that and evidently the surveyors weren't happy with it....

[Deleted User]

Also, they wont put loads of pressure on you.  Its unlikely they can find a new buyer and also most developers have the end of financial year in December so they only usually get really annoying around November time trying to get all their money in before the year finishes

robtam

But no one can tell me when the surveyor will look at the form. Is it unreasonable to have a date - even if its in 1 month time. This is on H2B so should be a desktop...