Kent reliance

aleeek

firsttimebuyerhelpmepleaae said:

Hello can anyone help me please?

I am purchasing a new build shared ownership property that is due to be finished end of feb 2021. I used metro finance mortgage brokers and got an AIP done in 1 day from Kent Reliance and submitted a formal mortgage application on 27/10/20. I had notification that the valuation is pending and Kent reliance have asked for more bank statements. The problem is that the house is not yet finished so they aren’t carrying out a physical valuation so the surveyor has sent plans for the valuation to be completed via desktop. Has anyone else had this? I have been told KR do not always accept desktop valuations.

My second question is do I instruct a solicitor or await to see if They will accept this as I don’t want to pay a fee I will lose if not but I am also aware they have long wait times?

please help! I’m worried x

Hey, not sure about the valuations but you can instruct a solicitor with a no move no fee deal and then you only risk losing money for searches, so only about 150 quid or so. 

rachlikeswinter

All this chat about solicitors needing to be on KR's panel - I had no idea! I presume the one I've chosen is fine if I've got this far and they've not said anything?! At what point do they tell you that?

aleeek

rachlikeswinter said:

All this chat about solicitors needing to be on KR's panel - I had no idea! I presume the one I've chosen is fine if I've got this far and they've not said anything?! At what point do they tell you that?

You can check on KR website and see the solicitors panel and see if yours are on there. https://www.kentrelianceforintermediaries.co.uk/shared-ownership-solicitors-panel

rachlikeswinter

aleeek said:

rachlikeswinter said:

All this chat about solicitors needing to be on KR's panel - I had no idea! I presume the one I've chosen is fine if I've got this far and they've not said anything?! At what point do they tell you that?

You can check on KR website and see the solicitors panel and see if yours are on there. https://www.kentrelianceforintermediaries.co.uk/shared-ownership-solicitors-panel

Oh thank you - just checked and they are phew. Mild heart attack there haha. In fairness I'm sure my broker would have checked that at the outset. I'm like a ball of anxiety these days!

happyday20

Today is our valuation day! I’m so nervous, I’m hoping it goes ok. Does anyone know roughly how long it takes for KR to receive the report and let us know if they are happy with it?

aleeek

happyday20 said:

Today is our valuation day! I’m so nervous, I’m hoping it goes ok. Does anyone know roughly how long it takes for KR to receive the report and let us know if they are happy with it?

It really varies, our valuation was done on 28/10 and still heard nothing about it. 

MSN2220

Monik2510a said:

MSN2220 said:

Monik2510a said:

Anyone had to ask solicitors to do 'dual representation' due to the solicitors not being on the lender panel?

We had to change solicitors when we switched from Leeds to Kent 

Have you offered dual representation and they didn't agree? Have your original solicitors done any work? Ours have applied for searches and received contract papers from the sellers solicitors etc. I hope they will agree. We got the agreement in principle with Kent by the way  
I'm loosing my sleep over it now....

No I didn’t get that option. I had to change solicitors 

happyday20

aleeek said:

happyday20 said:

Today is our valuation day! I’m so nervous, I’m hoping it goes ok. Does anyone know roughly how long it takes for KR to receive the report and let us know if they are happy with it?

It really varies, our valuation was done on 28/10 and still heard nothing about it. 

Oh wow. Have you chased this with your MB to ask what the delay is?

aleeek

happyday20 said:

aleeek said:

happyday20 said:

Today is our valuation day! I’m so nervous, I’m hoping it goes ok. Does anyone know roughly how long it takes for KR to receive the report and let us know if they are happy with it?

It really varies, our valuation was done on 28/10 and still heard nothing about it. 

Oh wow. Have you chased this with your MB to ask what the delay is?

Well KR have queried some transactions in the meantime, and my MB said its taking a little longer to underwrite valuations but I have emailed my MB to see if they can find out what's happened with the valuation. I hope it went ahead to be honest. 

happyday20

aleeek said:

happyday20 said:

aleeek said:

happyday20 said:

Today is our valuation day! I’m so nervous, I’m hoping it goes ok. Does anyone know roughly how long it takes for KR to receive the report and let us know if they are happy with it?

It really varies, our valuation was done on 28/10 and still heard nothing about it. 

Oh wow. Have you chased this with your MB to ask what the delay is?

Well KR have queried some transactions in the meantime, and my MB said its taking a little longer to underwrite valuations but I have emailed my MB to see if they can find out what's happened with the valuation. I hope it went ahead to be honest. 

I have my fingers crossed that you will get your offer soon. Our valuation was booked in 2 weeks ago for today, my MB said it takes 24-48 for the report to go back to KR (I just got off the phone to our MB) and that hopefully after that it will go I nto the offer queue. They haven’t asked for any additional documents in the last few weeks, but it’s all just a waiting game, it’s frustrating not knowing what stage you are at, and by the time they ask for something you’re put to the back of the queue again...