(Im)patiently waiting.....

luaive

Today is the one week anniversary since the in person house valuation happened 🎉😂 Excuse to eat some cake 🤔😁 Not that I need an excuse tbf 😂 I have to be the 'yhea, these things take a while' to hubby as he's worried that the NatWest mortgage tracker just says mortgage valuation in progress, and no dates about it being received.  Naturally im also (in my head) flapping around like a headless chicken, but no good us both stressing each other. Crossing everything that we hear something soon, perhaps next week, or the tracker updates, no news is good news and all that 🤞

silvercar

One week! You need to take a chill pill! Your looking at a timescale that could take many months if a chain is involved, many weeks if it is a purchase with no other deal involved.

luaive

Lol. I'm chilled 😎 eating my anniversary cake 😜 Still I'm allowed to have some worry, its natural, especially with such a big life step 🙂 Nah no chain, purchasing (hopefully) the place we have rented for a long while. Would like the valuation report as that obviously changes things if they value it lower than the offer price. 

horsewithnoname

luaive said:

Lol. I'm chilled 😎 eating my anniversary cake 😜 Still I'm allowed to have some worry, its natural, especially with such a big life step 🙂 Nah no chain, purchasing (hopefully) the place we have rented for a long while. Would like the valuation report as that obviously changes things if they value it lower than the offer price. 

What if they value it higher? Will you insist on paying more?

luaive

I would think we should go for a different mortgage provider and see what they offered, at least then if they came back with the same or a lower offer, we could go to the landlord and say well 2 banks have offered X amount and hope he accepted that was the price the property was worth. We do have 15k still saved, meant for decorating etc, so worse case there is that, guess it depends on how low the offer is. Personally I think it's worth a hella more than we are paying, but someone else (valuer) might have a different view. I'm just thinking knowing my luck our valuation has got lost somewhere 😂

silvercar

luaive said:

I would think we should go for a different mortgage provider and see what they offered, at least then if they came back with the same or a lower offer, we could go to the landlord and say well 2 banks have offered X amount and hope he accepted that was the price the property was worth. We do have 15k still saved, meant for decorating etc, so worse case there is that, guess it depends on how low the offer is. Personally I think it's worth a hella more than we are paying, but someone else (valuer) might have a different view. I'm just thinking knowing my luck our valuation has got lost somewhere 😂

You don’t want too many searches on your credit file. If you want to find out what it is worth, though this is subjective, call a few estate agents and ask them.

Jemma01

lol I feel you, it is much worse when you're in a chain and hoping their searches and valuations and surveys come out OK, and that no one changes their mind. Waiting 2 weeks for my mortgage offer drove me nuts with their stupid questions
HSBC: "oh your name has a h, your accountant addressed you without a h"...
me: "that's my common name but I signed that letter with my formal name with the h?" ...
HSBC: "we need your accountant to confirm that both names belong to you, we need a signed letter from them"
me: "it is signed with m formal name, the same document tells you that both names belong to me, and it is a formal document produced and uploaded by them to HMRC, if they thought I wasn't the one, why would they take it to HMRC"
HSBC: mm no🤪

So, don't stress, it could be worse 😃

If it comes out to be lower, I wouldn't go to another mortgage provider, I'd show the response back to the landlord and ask them to consider adjusting the price if they want you to buy it. They can say no, and face the same problem with another buyer. 

luaive

True re the searches but knowing the LL he wouldn't accept less with only one opinion, not sure many people would tbh, unless they were in a hurry to sell. Yes, I have considered the estate agent valuation, really don't fancy the constant hassle of being contacted by them afterwards thou 😂 

Oh as far as stress levels I'm way down 😂 compared to some nightmares I've read, if it all works out 🤞 then we have no moving costs, no stress of moving, no chain, just instead of handling over money to pay the LL mortgage, we are handing it over to the bank, to pay our own 😁
Haha, it does make you wonder if the person with the braincell is on annual leave 😂 My best one was many years ago when I claimed housing Benefit with an ex, the council copied my details on one side and my ex details on the opposite side, and then later said they had misplaced my details 🤔 but still had my ex's 🤷 glad i dont deal with any benefits now, thou the cash boost would be good, got someone i work with, dropped her hours and now takes home MORE because they can claim, i forget what the benefit is, like a pay topup.
Have received an update re the valuation, bank are still waiting to receive the valuation, which I would have thought they would have it pretty much a day or two later 🤔 said they will chase it not received in the next few days. Other than that mortgage is ready to go. Then I can celebrate being skint for the foreseeable future 😂