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Physical valuations
Comments
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Can anyone answer this question for me?
The property we are purchasing was valued at £225k.
We have agreed to pay £210k with a 5% deposit of £10.5k.
Does this mean the valuation has to come back at the valuation amount of £210k agreed purchase price?
Or does it have to be in excess of the mortgage amount of £200k?
Its a hard to value property and I’m so worried about a down valuation after all of this chaos0 -
I’ve told my mortgage broker to hold off my valuation until August. I’m holding off until I’m fully back in work and I’m slightly worried that the market will drop.0
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Mortgage approved!! God it’s been a long wait.
Recap:
95% mortgage with NatWest, FTB, pre-COVID offer accepted 4 March
Application submitted 18 March, valuation originally instructed 23 March
Approved subject to physical valuation early April
...
Physical valuation 21 May
Valuation confirmed ok (agreed purchase price) 28 May
Offer issued 1 June
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anerise said:Mortgage approved!! God it’s been a long wait.
Recap:
95% mortgage with NatWest, FTB, pre-COVID offer accepted 4 March
Application submitted 18 March, valuation originally instructed 23 March
Approved subject to physical valuation early April
...
Physical valuation 21 May
Valuation confirmed ok (agreed purchase price) 28 May
Offer issued 1 June0 -
anerise said:Mortgage approved!! God it’s been a long wait.
Recap:
95% mortgage with NatWest, FTB, pre-COVID offer accepted 4 March
Application submitted 18 March, valuation originally instructed 23 March
Approved subject to physical valuation early April
...
Physical valuation 21 May
Valuation confirmed ok (agreed purchase price) 28 May
Offer issued 1 June
Very interesting, Natwest 90%LTV here we had our valuation on the 28th and I was getting concerned we hadn't heard anything back as broker said 24-48 hours usually but I'll be happy to wait a week as long as everything is ok!0 -
JessJ23425 said:anerise said:Mortgage approved!! God it’s been a long wait.
Recap:
95% mortgage with NatWest, FTB, pre-COVID offer accepted 4 March
Application submitted 18 March, valuation originally instructed 23 March
Approved subject to physical valuation early April
...
Physical valuation 21 May
Valuation confirmed ok (agreed purchase price) 28 May
Offer issued 1 June
Very interesting, Natwest 90%LTV here we had our valuation on the 28th and I was getting concerned we hadn't heard anything back as broker said 24-48 hours usually but I'll be happy to wait a week as long as everything is ok!0 -
Just had a chat with Natwest. My valuation was done on Friday 29th and submitted same day. it’s now been uploaded this morning on Natwest system and the report is fine. Happy with the valuation. Now waiting to be final checked by the underwriter then issue offer in 48hours. Fingers and toes crossed.. will chase them up again tomorrow. I seem to be doing the job of my broker.1
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My valuation was on Thursday, I called Natwest but was said that report was not received. I called e.surv and L&G and both told me that they had submitted the report on Thursday. I recalled Natwest and lady double-checked and said that report was not transferred from L&G to NatWest’s system. After few minutes she was able to get access to it. It was written that an EWS1 form is required to evaluate the flat as it is in a building above 18m. I emailed EA and was able to get the from within 15 minutes. I have sent it to Natwest, e.surv and L&G. Not sure why surveyor did not ask it directly to EA when he met him on Thursday.0
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Thanks guys, my valuation was 27th and not heard anything yet, nothings updated either on the mortgage tracker, so should I call them to find out? It says pending valuation 23rd March, so it's not even updated.
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Beckiwf said:Thanks guys, my valuation was 27th and not heard anything yet, nothings updated either on the mortgage tracker, so should I call them to find out? It says pending valuation 23rd March, so it's not even updated.1
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