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Physical valuations

edited 11 May at 6:10PM in Mortgages & Endowments
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BeckiwfBeckiwf Forumite
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edited 11 May at 6:10PM in Mortgages & Endowments
Hi 
Does anyone know if physical valuations will be soon getting up and running again?

I'm a 95% LTV and buying a leasehold flat. I have been on hold since march 23rd as they cant do a desktop one.
Just want to know if it will be soon now or at least have a date. My broker is on furlough so I've got no one really to ask.
My property although is leasehold flat is vacant and hasn't got any shared entrances so very frustrating :/

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Replies

  • MovingForwardsMovingForwards Forumite
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    It's down to each surveying company to decide when they want to return to business and begin working through their backlog.

    If you know which surveyor does your lenders valuations, look on their website and see what information they have put up.

    If you don't know what company your lender uses, post up the lender name and someone may be able to say or it may be listed on the lenders site.
  • ACGACG Forumite
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    I would not expect anything until at least the end of the month.
    RICS and the surveying companies (colleys, eserv, countrywide etc) will need to talk and discuss safety protocols, they will then also need to order and be trained on PPE - realistically you are talking at least 2 weeks I would imagine. 

    I also read that there is upto a 2 month backlog of valuations, so it might not be until July but I imagine they will be done in some sort of date order meaning yours will likely be one of the earlier ones to be done. 
    I am a Mortgage Adviser
    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.
  • LeonbergerLeonberger Forumite
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    I’m also waiting and hoping they start doing some valuations! 
    Our sale is resting on ours which has been on hold for 8 weeks 😐
  • Giammy85Giammy85 Forumite
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    Over the coming days, we will publish practical guidance to support RICS professionals who play a critical role in the housing sector, specifically on physical inspections for mortgage valuations and home surveys. 
    This is RICS today press release
    Who Natwest is using as surveyor?
  • kingstreetkingstreet Forumite
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    LGSS is NatWest's usual choice.
    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.
  • LeonbergerLeonberger Forumite
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    Mine is NatWest and they are using a company called e-surv.

    No indication as to whether any valuations will be happening soon so hopefully that update clarifies something.

    My estate agent has said that the housing market is classed as retail therefore will be opened in the last phase!!! I hope not!
  • Giammy85Giammy85 Forumite
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    Surveyors prepare to restart physical valuations

    Arnold & Baldwin Chartered Surveyors has announced plans to begin visiting properties again

    I am not allowed to post links, so please google this news.

  • ACGACG Forumite
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    Ive been made to eat my words, one of our customers has a valuation booked in for tomorrow. 
    I am a Mortgage Adviser
    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.
  • jenks48jenks48 Forumite
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    I'm also waiting too. Not sure whether barclays do Desktop. Mine is a 65%ltv 
    Knowing how long mine application has been going on what's a few more weeks going to do.😒 so they will probably opt for a physical just to make me wait a bit longer. Longest wait I've had. 
  • BeckiwfBeckiwf Forumite
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    Third Anniversary 10 Posts
    Thanks, so looks like mixed messages.. I'm natwest but I dont know who they are using, just worried after all this it will fall through. If I knew I had an offer It could take as long as it needs too.

    Reading all through the business guidance surveyors come under social distancing / home visits so I cant see why they cant look at empty properties even if it's a leasehold still doing the relevant measures.
    so guess it's still a waiting game.


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