Physical valuations

anerise

JessJ23425 said:

anerise said:

Just a note to say broker has emailed us to let us know our NatWest physical valuation is being carried out today! Mortgage application submitted 18 March, valuation instructed literally the day before lockdown on 23 March then on hold since then. 95% LTV mortgage, approved subject to valuation. Fingers and toes crossed.

Would be interested to know if you heard back yet? If so how long until you did hear about?
Ours is due next week I'm very nervous!

No I haven’t heard anything but it’s only been 24 hours! NatWest have something on their website about 5 working days to offer so considering the bank holiday on Monday, I’m hoping to get the mortgage offer by the end of next week.

bell

Turns out L&G were unable to contact the vendors estate agent (also mine) before lockdown  3 times so valuation never got done. They finally did get in touch on 23rd and EA refused to even contact the vendor about it (though it was post lockdown)

L&G now contacting Natwest to confirm they are still instructed and surveyors in the area to confirm they will enter properties, then the EA to book the survey so hopefully some time next week.

Not entirely sure why the broker couldn't find this out and we had to do it tbh. So if you are not getting anywhere do some leg work yourself. It might just be sitting on someone's desk for some odd reason. 

Thrugelmir

bell said:

Not entirely sure why the broker couldn't find this out and we had to do it tbh. So if you are not getting anywhere do some leg work yourself. It might just be sitting on someone's desk for some odd reason. 

All explained in @Kingstreet post. The backlog is going to take time to unwind. Surveyors offices may well not be operating at full staff capacity. 

Leonberger

My survey has apparently been cancelled by the bank. Nice to find this out from the surveyor after 7 weeks wait not the bank themselves 

Beckiwf

All booked in for 27th slightly nervous now.

jenks48

Was informed by my broker today. Barclays are hoping to get the physical valuation backlog done by the 10th June..more waiting.

se7en_up

Had confirmation my survey is being done today with Natwest for a new build (applied start of April), finally!. Strangely they now decided they want to do a desktop valuation and then go back Thursday to do a physical. I've been reading a lot of desktop valuations were coming back on avg. <10% of the purchase price during the lockdown so maybe they just want to test the process.

jenks48

Hopefully I'll get to hear something soon. Tried doing a desktop valuation but because it's a new build there wasnt much to go on in the area. So a physical one it is.
Good luck with yours..

JessJ23425

We had ours on Friday (as far as we know, vendors agreed to it and it was booked in) not heard anything yet.
Natwest mortgage, valuation done by L&G

jenks48

JessJ23425 said:

We had ours on Friday (as far as we know, vendors agreed to it and it was booked in) not heard anything yet.
Natwest mortgage, valuation done by L&G

Please let me know how you get on broker seems to think mine will get done by the 8th June ..with all the other backlog ones .good luck.