Valuation Scotland

J4mesg

hi lender is requesting they do their own internal valuation due to our deal being 90 ltv. Anyone ever heard of this is scotland?  They have home report and mortgage valuation certificate.
MB is still discussing it with them.

HummingBird76

J4mesg said:

hi lender is requesting they do their own internal valuation due to our deal being 90 ltv. Anyone ever heard of this is scotland?  They have home report and mortgage valuation certificate.
MB is still discussing it with them.

I have heard of them doing that if the Surveyor that did the HR is not on the Lender's panel.  Which bank is it?

davidmcn

The Clydesdale certainly used to be quite fond of doing their own valuations, not sure if it related to LTV or other criteria.

Hasbeen

Different mortgage providers in Scotland have their own lists of approved surveyors. Usually local.

If the sellers paid for a surveyor that did the home report for the seller and is not on their list?

Then the buyer has to pay for their own report and a surveyor  approved by the lender.

J4mesg

HummingBird76 said:

J4mesg said:

hi lender is requesting they do their own internal valuation due to our deal being 90 ltv. Anyone ever heard of this is scotland?  They have home report and mortgage valuation certificate.
MB is still discussing it with them.

I have heard of them doing that if the Surveyor that did the HR is not on the Lender's panel.  Which bank is it?

Bank of ireland. Hopefully they end up accepting home report

J4mesg

Hasbeen said:

Different mortgage providers in Scotland have their own lists of approved surveyors. Usually local.

If the sellers paid for a surveyor that did the home report for the seller and is not on their list?

Then the buyer has to pay for their own report and a surveyor  approved by the lender.

Ok may be something like this situ then if surveyor not approved. Will see if i hear anymore tomorrow. Hopefully they accept home report.

Hasbeen

Hopefully they will. But some times they get a bit odd.
We sold a property to a relative and paid  a local approved surveyor for the home report by law, and gave it to the relative.

The lender refused the report as we were relatives and insisted on getting their own surveyor which we paid for again.

The same surveyor showed up! But the  lender was happy as they had instructed him to do the survey. Paperwork exercise?

J4mesg

Yes maybe. Hoprefully worse case scenario another 5 or 6 days!

MovingForwards

My lender didn't accept the HR, as the surveying company wasn't on their panel.

Due to having a good look around the property, grounds etc and the existing HB report, I was happy to not pay for my own survey and just do the valuation for the lenders benefit. 

Came in as per my offer, which was under the HR valuation. Mine was in January.

I ended up with a copy of the report because a clause in the mortgage offer made reference to the surveyor comments but not what the comments were 😂

J4mesg

MovingForwards said:

My lender didn't accept the HR, as the surveying company wasn't on their panel.

Due to having a good look around the property, grounds etc and the existing HB report, I was happy to not pay for my own survey and just do the valuation for the lenders benefit. 

Came in as per my offer, which was under the HR valuation. Mine was in January.

I ended up with a copy of the report because a clause in the mortgage offer made reference to the surveyor comments but not what the comments were 😂

Thanks. Helpful. Looking like could be same issue