Kent reliance

lejones91

Hi all, I' currently applying for a mortgage with KR on a shared ownership property. The valuation was done a few weeks ago and the surveyor has down valued the property (despite the housing association selling all their other properties for the sale price) this is now in appeal and is taking forever to come back. Has anyone been in a similar situation or know how likely they are to change the valuation? 

happyday20

lejones91 said:

Hi all, I' currently applying for a mortgage with KR on a shared ownership property. The valuation was done a few weeks ago and the surveyor has down valued the property (despite the housing association selling all their other properties for the sale price) this is now in appeal and is taking forever to come back. Has anyone been in a similar situation or know how likely they are to change the valuation? 

Hello, sorry to hear this. How long after your valuation did they tell you it was down valued? I haven’t really read much on down valuations. But usually the people you’re buying the house from should have comparables to show them (if other properties have sold for the same value)  hopefully this will get resolved soon for you. Keep positive 

firsttimebuyerhelpmepleaae

Hi all I’ve had an update too. Valuation now booked for this week and they are using a show home which is great. They also came back asking for all kinds of documents today so that’s all been sent over now too.

csumm4

lejones91 said:

Hi all, I' currently applying for a mortgage with KR on a shared ownership property. The valuation was done a few weeks ago and the surveyor has down valued the property (despite the housing association selling all their other properties for the sale price) this is now in appeal and is taking forever to come back. Has anyone been in a similar situation or know how likely they are to change the valuation? 

Hi there.. we went with Leeds building society initially and they down valued the property and wouldn't budge so now trying KR instead. KR valued the neighbouring house for my MBs other clear at full asking price so ours should be OK. Despite knowing this Leeds would not change their valuation though 

Natalie866

We are in the process of getting a morgage with Kent, it's been an ok process, had the valuation on 11/11 which was fine, my husband has applied for a morgage just in his name as I am not working and a full time carer for my autistic son so only get disability and carers allowance so didn't want to take this money into account, also I have a low credit rating due to having credit problems in the past, any ways I've been 40 months with no issues and have a credit card with 11k on it which I never miss a payment. We have just been informed Kent won't proceed on a single application if your married has to be a joint one, as were applying for the non prime they accept adverse credit but I haven't had any in over 3 years, we have offered to clear the balance of the credit from our savings if they think this is better,we wasn't told this before we proceded with application and fees. Also our solicitor branch isn't on there panel but head office is so have to transfer our work to a solicitor in the hull office it's just like arghhhh

lejones91

csumm4 said:

lejones91 said:

Hi all, I' currently applying for a mortgage with KR on a shared ownership property. The valuation was done a few weeks ago and the surveyor has down valued the property (despite the housing association selling all their other properties for the sale price) this is now in appeal and is taking forever to come back. Has anyone been in a similar situation or know how likely they are to change the valuation? 

Hi there.. we went with Leeds building society initially and they down valued the property and wouldn't budge so now trying KR instead. KR valued the neighbouring house for my MBs other clear at full asking price so ours should be OK. Despite knowing this Leeds would not change their valuation though 

That's interesting as I was going to use Leeds as my second choice should KR not budge on the valuation. I'm waiting to hear back regarding KR decision on the comparables that have been sent over. Can I ask you how long after you put an appeal in regarding the valuation did you hear back? or did you not appeal the valuation? 

lejones91

happyday20 said:

lejones91 said:

Hi all, I' currently applying for a mortgage with KR on a shared ownership property. The valuation was done a few weeks ago and the surveyor has down valued the property (despite the housing association selling all their other properties for the sale price) this is now in appeal and is taking forever to come back. Has anyone been in a similar situation or know how likely they are to change the valuation? 

Hello, sorry to hear this. How long after your valuation did they tell you it was down valued? I haven’t really read much on down valuations. But usually the people you’re buying the house from should have comparables to show them (if other properties have sold for the same value)  hopefully this will get resolved soon for you. Keep positive 

I heard back after about 10 days of the valuation being done, as we had to go back with the EWS1 form etc so it took longer. KR have had the comparables for 2 weeks now and I've still heard nothing it's honestly painful, I just want to know so I can proceed with another lender if they don't change the valuation! But yes keeping everything crossed and positive it will be okay.

csumm4

lejones91 said:

csumm4 said:

lejones91 said:

Hi all, I' currently applying for a mortgage with KR on a shared ownership property. The valuation was done a few weeks ago and the surveyor has down valued the property (despite the housing association selling all their other properties for the sale price) this is now in appeal and is taking forever to come back. Has anyone been in a similar situation or know how likely they are to change the valuation? 

Hi there.. we went with Leeds building society initially and they down valued the property and wouldn't budge so now trying KR instead. KR valued the neighbouring house for my MBs other clear at full asking price so ours should be OK. Despite knowing this Leeds would not change their valuation though 

That's interesting as I was going to use Leeds as my second choice should KR not budge on the valuation. I'm waiting to hear back regarding KR decision on the comparables that have been sent over. Can I ask you how long after you put an appeal in regarding the valuation did you hear back? or did you not appeal the valuation? 

Hi there.. we didn't appeal. As our MBs other client had a valuation on neighbouring property with KR at full asking we just switched straight away. Althoufht KR seem to be very slow in comparison to Leeds I have found in general which is frustrating. I would definitely try appeal it before changing to Leeds unless your broker thinks otherwise 

Monik2510a

Natalie866 said:

We are in the process of getting a morgage with Kent, it's been an ok process, had the valuation on 11/11 which was fine, my husband has applied for a morgage just in his name as I am not working and a full time carer for my autistic son so only get disability and carers allowance so didn't want to take this money into account, also I have a low credit rating due to having credit problems in the past, any ways I've been 40 months with no issues and have a credit card with 11k on it which I never miss a payment. We have just been informed Kent won't proceed on a single application if your married has to be a joint one, as were applying for the non prime they accept adverse credit but I haven't had any in over 3 years, we have offered to clear the balance of the credit from our savings if they think this is better,we wasn't told this before we proceded with application and fees. Also our solicitor branch isn't on there panel but head office is so have to transfer our work to a solicitor in the hull office it's just like arghhhh

Hey. We're also doing a shared ownership single application in my husbands name. We were going to go with Kent, but our mortgage broker said this is the criteria we don't meet. I work and I dont depend financially on hubby tho. We went with Santander instead, they were fine with that, 15% deposit

Natalie866

They don't seem to think adding me on the morgage will be an issue as it's been over 3 years of no credit issues and the fact we have the money to clear anything we owe and still have a good amount of savings surely shows we are good with money,I just don't know what to think anymore or to expect,if this gets declined on this basis I will he complaining as we wasn't made aware before we had to pay that we had to do a joint application