Estate Agent wants mortgage survey asap

MaryNB

FataVerde said:

Tokmon said:

FataVerde said:

Tokmon said:

FataVerde said:

Some clarification: This is what the EA said so I used their terms "we just need a mortgage survey/ valuation booked in as soon as you you can".

The process was delayed because all solicitors were just too busy until June 30 and the legal pack has not even reached my solicitor. Now that the solicitor has some time, the mortgage broker has left on a one week vacation. But the mortgage broker told me that the bank will do a basic 'survey' very late in the process because I put down 40- 50% deposit. Instead I arranged for an independent surveyor to do a Homebuyer's report for me. This costs me more so it should essentially show more commitment.  That's why I worry that there might be something wrong with the house, but my lender won't be too serious about the valuation because of the high deposit. 

Have you checked to see if the mortgage valuation can be upgraded to a homebuyers report for an extra fee?. I have done this previously and it has worked out cheaper than booking a separate surveyor to do it and they used a local independent company anyway. 

I was advised to do this by my broker, but my broker also told me the lender will do this very late in the process so I wanted to actually do the survey first then incur legal fees if no major issue showed up in the report. I also searched quite a bit and found somebody recommended. I even got to read a Homebuyer's Report he had written up for a house in the same neighbourhood.

I'm very surprised by that because i went direct to the lender and they did the valuation/survey less than 2 weeks after the application because they need this done before they approve the mortgage. 

How much deposit did you have? I have around 40-50% so apparently they are less serious, but I may be wrong

As I mentioned  above I had a 35% deposit but still my seller's EA was constantly in contact about my mortgage application and valuation. The EA even took the phone number of my lender's surveyor so they could contact the surveyor directly to get the valuation booked in. In my case I got my mortgage valuation upgraded to include a homebuyer's survey. I started the process of getting my mortgage offer as soon as the seller accepted my offer.