Physical valuations

NDTNewbie

Does anyone know if valuations are being under valued due to the forecasted property price drop? I’m thinking of holding off mine for a few months. 

Thrugelmir

Market prices are driven by what a buyer is prepared to offer, and a seller is willing to accept. With the predictable economic turmoil that lies ahead. Buyers do appear to hold the upper hand. 

anerise

Update!! Hadn’t heard anything from broker or NatWest after physical valuation was done last Thursday and the tracker was useless. So I called NatWest directly- valuation is back and it is at pre-COVID agreed purchase price!! Hallelujah. Just waiting for an underwriter to look at it for the final sign off and they thought that would happen today. I’m so, so, relieved. Time to book my homebuyers survey!

JessJ23425

JessJ23425 said:

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

jenks48 said:

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.

So they contacted us last Monday to say it was being done on Friday, we were very excited as we weren't expecting it to be so soon...

Update... after hearing nothing from anyone since our Valuation was booked on Friday WE had to contact them today and were told it was not done because they had no one to do it... they didn't bother to tell us or Natwest this. Quite shocking really, I understand having a big workload and we've been pending a valuation since March 30th - we've been patient. So annoying to have to chase them just to find out the appointment they made couldn't be done.

Back to waiting ...

Another update!
After finding out it wasn't done because they had no one even after booking it in, I contacted L&G directly and was quite stern that this wasn't great service and even Natwest were surprised to not even be told they hadn't done it.

Miraculously this morning I received contact from their Surveying Manager who has told me they found someon who has been booked in TODAY and the valuation is going ahead as we speak!

I really recommend getting in contact with them directly as it seems to get the ball moving.

Leonberger

Rang legal and general and finally on for next week.
Now to just pray it comes in at the agreed purchase price!!!

jenks48

anerise said:

Update!! Hadn’t heard anything from broker or NatWest after physical valuation was done last Thursday and the tracker was useless. So I called NatWest directly- valuation is back and it is at pre-COVID agreed purchase price!! Hallelujah. Just waiting for an underwriter to look at it for the final sign off and they thought that would happen today. I’m so, so, relieved. Time to book my homebuyers survey!

That's good news hoping mine will be okay on a new build the waiting is horrible time will tell.  Hoping mine is okay too.
 

jenks48

JessJ23425 said:

JessJ23425 said:

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

jenks48 said:

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.

So they contacted us last Monday to say it was being done on Friday, we were very excited as we weren't expecting it to be so soon...

Update... after hearing nothing from anyone since our Valuation was booked on Friday WE had to contact them today and were told it was not done because they had no one to do it... they didn't bother to tell us or Natwest this. Quite shocking really, I understand having a big workload and we've been pending a valuation since March 30th - we've been patient. So annoying to have to chase them just to find out the appointment they made couldn't be done.

Back to waiting ...

Another update!
After finding out it wasn't done because they had no one even after booking it in, I contacted L&G directly and was quite stern that this wasn't great service and even Natwest were surprised to not even be told they hadn't done it.

Miraculously this morning I received contact from their Surveying Manager who has told me they found someon who has been booked in TODAY and the valuation is going ahead as we speak!

I really recommend getting in contact with them directly as it seems to get the ball moving.

Think I'll put another call in to see what's happening with my valuation. Good news for you.  Broker just tells me we have to wait. 

Leanne93

We got a call from E.surv this afternoon and ours is booked for Tuesday. Valuation was instructed 7th May by Natwest

jenks48

Leanne93 said:

We got a call from E.surv this afternoon and ours is booked for Tuesday. Valuation was instructed 7th May by Natwest

That's good. Barclays instructed mine on the 6th May so hoping I hear soon.

Treshan16

Has any one had any updates or mortgage offers, since their valuations took place recently? Connells carried money out this morning. Apparently they send reports the same day to lenders.