Desktop Valuations.

AilieG01

I have been tracking my mortgage online and the only thing outstanding is valuation. Apparently it was instructed last Wednesday. We were told from MB it was a desktop so just wondering if anyone knows the turn around times for these. We are using NatWest. 

Thrugelmir

Perhaps with the restrictions lifted. Will now be a physical one. 

jenks48

Hey I've just found out on mine it has to be a physical valuation they did try do a desktop but there wasnt enough information. It's a new build was instructed last wednesday too. Hopefully with things lifted they may get through the backlog. 

bell

Supposed to be 48 hours for a desktop for Natwest once instructed

AilieG01

bell said:

Supposed to be 48 hours for a desktop for Natwest once instructed

We are now over a week. Finally got MB and he said he would chase it along. We are in Scotland so nothing has been lifted yet! Could be another while before valuations start. 

jenks48

Think that's going to be me too. Desktop was not substantial enough on a new build so I'm in Wales be a while for me too.

onthego

We are also in Wales with Natwest, on application we checked with that a desktop valuation shouldn't be a problem, now they have put our mortgage on hold indefinitely with no explanation of what went wrong with the desktop valuation - just said they were unable to verify the valuation.  It was 60% ltv on an entirely normal terraced house.  Really frustrating as we'd already told Natwest we didn't know how to value it and we could increase our deposit if needed if they valued it lower.  Hope you have more luck.

AilieG01

@onthego we found out today that our mortgage has been agreed subject to valuation. However still no further forward with the valuation. They are still claiming it’s to be a physical although the reason we went with them was that they assured us it would be desktop. 

onthego

Oh how frustrating.  I worry that maybe they are trying to delay agreeing mortgages until house prices fall to reduce their risk or cherry picking the ones they fancy and delaying the rest.  Probably a bit paranoid, I just feel so out of control with absolutely everything at the moment, rugs being pulled from under our feet in different ways every day.  I hope they sort yours.

AilieG01

Mortgage broker is supposedly getting back to us tomorrow with an answer from NatWest as to what’s going on. Currently furloughed so too much time to think about things! Has taken then over a week to get back to him and that’s a long time in furloughed life!!