can a survey of property be done even before the mortgage application is looked at?

K_S

fitzykev said:

would the broker done the credit check on there behalf?

@fitzykev Effectively, yes. The credit check would have happened when the broker did your DIP (Decision In Principle) prior to the full application. The credit-check at the DIP stage is usually a soft-footprint one (they can still get all the details that they would with a hard-check) for most lenders. When the full application is submitted by the broker, the earlier soft-check is either upgraded to a hard-check or a new hard-check is done.

MaryNB

fitzykev said:

I only put an application in this morning and paid the lender for the survey and they are sending someone out Thursday. surely they don't send a surveyor out until the application is approved pending the survey of course.  

My application was marked "approved subject to valuation" the morning after I applied (probably about 4 business hours in total). Although it took them longer to sort out a surveyor. 

fitzykev

MaryNB said:

fitzykev said:

I only put an application in this morning and paid the lender for the survey and they are sending someone out Thursday. surely they don't send a surveyor out until the application is approved pending the survey of course.  

My application was marked "approved subject to valuation" the morning after I applied (probably about 4 business hours in total). Although it took them longer to sort out a surveyor. 

can i ask who your application is with?

fitzykev

K_S said:

fitzykev said:

would the broker done the credit check on there behalf?

@fitzykev Effectively, yes. The credit check would have happened when the broker did your DIP (Decision In Principle) prior to the full application. The credit-check at the DIP stage is usually a soft-footprint one (they can still get all the details that they would with a hard-check) for most lenders. When the full application is submitted by the broker, the earlier soft-check is either upgraded to a hard-check or a new hard-check is done.

my application is a solo application the broker says my bank account look good. i was wondering  because i am married can the underwriter request seeing my wife's accounts? one of the accounts on my account is a joint account that we us to pay bills for example rent 650 we both transfer 325 then we would get gas and electric also on that account. so even though its a solo application. could they ask to see her account do you think?

MaryNB

fitzykev said:

MaryNB said:

fitzykev said:

I only put an application in this morning and paid the lender for the survey and they are sending someone out Thursday. surely they don't send a surveyor out until the application is approved pending the survey of course.  

My application was marked "approved subject to valuation" the morning after I applied (probably about 4 business hours in total). Although it took them longer to sort out a surveyor. 

can i ask who your application is with?

Halifax. I uploaded my payslips just after my phone appointment and then went to the branch with my ID and proof of address. Credit checks sometime the following morning before application was approved subject to valuation. 

fitzykev

I am with leeds building society i only made application this morning through broker. The estate agent emailed me about an hour after I paid the fee for surveyor to tell me the surveyor would be out Thursday. 

trakky14

We've done it both ways...early on once offer accepted and then more recently after the mortgage is fully approved. I would suggest you wait if there is a question over mortgage application or you don't want to risk spending 500-1000 on a survey for a house you might not end up buying if something goes wrong early days. Last year we paid for a survey a few weeks into the sale....chain collapsed and we wasted 1k. Didn't end up moving. This year we tried again and didn't instruct our survey until week 7 once the mortgage was approved, searches back and first lot of enquiries sent in case! It's your call