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Mortgage Offer after Physical Valuation
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LIMPIT61
Posts: 6 Forumite
My Buyer has had Mortgage Valuation and formal offer on my property but our transaction has been delayed as a result of their own Re-Mortgage for a Buy to Let required a Physical Valuation (Rather than a Desk Top), which was finally carried out last week 1st July, assuming no problems with valuation, based on the fact that I assume all supporting documentation relating to the approval of the application have already been processed, how long will my Buyer have to wait for the Mortgage Offer so the transaction can continue ?
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Comments
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How could we know? Depends on their backlog and what staff are working I suppose.
Maybe 2 more hours, maybe another week. Are you in a particular rush?2024 wins: *must start comping again!*0 -
Yes, we are extremely keen to move, I was just trying to gauge what the current time period is from any Forum members recent experience.0
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My Buyers Lender is The Mortgage Works which I understand are part of Nationwide Group, having viewed their Web-Site for a Standard Buy to Let Mortgage it illustrates the following Service Level Times as of 3rd July
Time to Offer 25 Days
Underwriting 3 Days
Document Assessment 3 Days
I am not familiar with the terminology, do any of the above cover period of time from the Survey to release of Mortgage Offer ?0
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