We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Lender Valuation Survey
oah276
Posts: 38 Forumite
Hi,
Does anyone with experience in selling and buying know how long it typically takes for the lender to instruct a valuation. We have buyers on our property and it’s been 6 weeks and we’re waiting for a valuation to be booked in. They are self employed and are first time buyers, does this have any impact? As far as am aware the mortgage application has not been declined and we are jus waiting for the survey to be booked. Any advise would be very appreciated.
Does anyone with experience in selling and buying know how long it typically takes for the lender to instruct a valuation. We have buyers on our property and it’s been 6 weeks and we’re waiting for a valuation to be booked in. They are self employed and are first time buyers, does this have any impact? As far as am aware the mortgage application has not been declined and we are jus waiting for the survey to be booked. Any advise would be very appreciated.
0
Comments
-
Depends on the lender. Some book them prior to underwriting, some book them after underwriting. Some also undertake desktop valuations if possible (so no access needs to be requested). Typically if done prior to underwriting and document checks, usually it's within 5 days of application, but it can obviously vary0
-
We’ve been told that the bank had two separate questions with a bit of back and forth it’s been 5 weeks since they submitted their application. It’s not been declined but valuation not been booked yet.0
-
This is the third post you've asked the same question now, and had the same answers...2
-
@oah276 There's nothing "typical" I'm afraid. Depends on the lender. Some lenders will instruct on Day 1, others will instruct after an initial review, yet others will only instruct after approving the case. So timelines can vary.
I am a Mortgage Adviser - You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
PLEASE DO NOT SEND PMs asking for one-to-one-advice, or representation.
1
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.4K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604.1K Mortgages, Homes & Bills
- 178.5K Life & Family
- 261.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards