Barclays mortgage valuations... which company?

robocop79

Does anyone know what company Barclays use for their property valuations, and whether I (as the customer) would have any say in who goes out?

The reason, I'm buying a new build and the developer won't allow Connells on site (because of their reputation to downvalue - which I understand). I've had a mortgage application in with Natwest who tasked Legal & General to do the valuation, who in turn subcontracted out to Connells. Now I'm stuck as neither Natwest or the developer will budge.

Barclays actually have a slightly better product so it's not the end of the world switching, (assuming they approve me) - but I don't want to go through a new application only to find myself in the same situation. 

Strangely, Natwest haven't done a hard credit check on me yet (that I can see) so I'm assuming me pulling out at this stage won't have a negative impact on my credit file / chance of getting a mortgage elsewhere. 

Appreciate any advice / similar experience! 

Hoenir

robocop79 said:

Does anyone know what company Barclays use for their property valuations, and whether I (as the customer) would have any say in who goes out?

Barclays is the customer. The valuation is prepared for them. In order to help decide whether the property provides adequate security / suitability for the mortgage advance being applied for. 

robocop79

Hoenir said:

robocop79 said:

Does anyone know what company Barclays use for their property valuations, and whether I (as the customer) would have any say in who goes out?

Barclays is the customer. The valuation is prepared for them. In order to help decide whether the property provides adequate security / suitability for the mortgage advance being applied for. 

Cheers  - sorry yes, I appreciate it's their survey for their use, I should have worded my question better and asked...  are Barclays likely to be sympathetic to the situation / listen to a request from me as their customer (as in not going via a broker)? 

BoGoF

robocop79 said:

Hoenir said:

robocop79 said:

Does anyone know what company Barclays use for their property valuations, and whether I (as the customer) would have any say in who goes out?

Barclays is the customer. The valuation is prepared for them. In order to help decide whether the property provides adequate security / suitability for the mortgage advance being applied for. 

Cheers  - sorry yes, I appreciate it's their survey for their use, I should have worded my question better and asked...  are Barclays likely to be sympathetic to the situation / listen to a request from me as their customer (as in not going via a broker)? 

Probably not. They are not going to change their tried and tested (to them) process for one person..

Could it be that the Connells person could be right and they are over-priced and the develepor is trying to 'protect' their profits?

kingstreet

If Connells is the only surveyor available in a particular area, whichever lender you go to is likely to end up using them as their panel manager will farm it out to whoever can do it. EG Countrywide is panel manager for Nationwide and HSBC but if they can't do it, they find someone who can.

robocop79

Thanks for the replies everyone. 

After reflection I agree it's a bit of a red flag if they won't allow a valuer on site in case they get a down valuation. The developer have agreed to let Connells on site now, so if we get a down valuation then I'll have to decide what I want to do at that point.

Just ended up getting in a bit of a panic! I do like the house but not at any cost.

Thanks again. 

JustMe18

robocop79 said:

Thanks for the replies everyone. 

After reflection I agree it's a bit of a red flag if they won't allow a valuer on site in case they get a down valuation. The developer have agreed to let Connells on site now, so if we get a down valuation then I'll have to decide what I want to do at that point.

Just ended up getting in a bit of a panic! I do like the house but not at any cost.

Thanks again. 

How was your valuation in the end? i have a valuation on my house ( I'm the seller) tomorrow with Connells, as it comes from my buyer's lender, but I am reading reviews and panicking they will down value my property. 

robocop79

Still waiting to hear back. It only took place yesterday and have been told it could be 48 hours before I hear back.

Good luck with yours! 

robocop79

Just to update, Connells did the valuation and Natwest were fine with it so they've now given me my mortgage offer.