Mortgage application with Barclays - Nov 2024 - New Build Home

anoopm50

I applied for mortgage for a new build home by Persimmons in Livingston, Scotland.

Appl Date : 11 Nov
Valuation Req: 13 Nov
Actual Valuation by visiting property : 18 Nov

Now I'm waiting for the mortgage offer after valuation review.

Does anyone know whether barclays undervalue new build home by Persimmons?

How many days will bank take to issues morgage offer after valuation?

I'm tensed because the Persimmons is giving me 5% deposit, carpet and turf if I do the completion before their December shutdown.

anoopm50

21/11/2024 : Update - I got the mortgage offer yesterday.
But after that the builder notified me the address of the property they gave me in the reservation form is wrong.

What I need to do as the mortgage offer is already issued. Will the bank again go for valuation?

The change is small Old address 25 Hare Road, new address is 25 Hare Crescent.

There is no Hare road at all!!

RelievedSheff

Tell your solicitor. They will get it sorted out.

kingstreet

A broker would complete and upload an application amendment form. It will have to be referred to the surveyor who did the valuation for the report to be amended then the offer can be re-issued.

user1977

If it's just a change of the postal address being allocated, and the valuation was of the correct plot, I doubt anything much needs to happen.

anoopm50

Update: 26/11/2024

Still the bank is yet to reply to the address modification request;

After chatting with Barclays support today, they told "The case is passed back to closing to refer this to valuer and request for amended report with correct property address".

I checked trackit, but nothing is updated there. Track It is a waste of time!!!!

Does anyone know whats "closing"? Is it another team?

kingstreet

No idea.

As I said above, it will have to be referred to the surveyor who did the valuation for the report to be amended then the offer can be re-issued. Usually a five working day SLA on referral back to surveyor.

anoopm50

kingstreet said:

No idea.

As I said above, it will have to be referred to the surveyor who did the valuation for the report to be amended then the offer can be re-issued. Usually a five working day SLA on referral back to surveyor.

Hi,

I contacted the barclays customer support and found out that it is referred back to the surveyor to provide the amended report.

The builder says they have already shared the updated report last Friday itself and yesterday once again they contacted the surveyor.

So hopefully I should get the amended offer start of next week some time.

anoopm50

anoopm50 said:

kingstreet said:

No idea.

As I said above, it will have to be referred to the surveyor who did the valuation for the report to be amended then the offer can be re-issued. Usually a five working day SLA on referral back to surveyor.

Hi,

I contacted the barclays customer support and found out that it is referred back to the surveyor to provide the amended report.

The builder says they have already shared the updated report last Friday itself and yesterday once again they contacted the surveyor.

So hopefully I should get the amended offer start of next week some time.

Update 02/12/2024:

Now the valuator from bank side gave a wrong address.
Actual address : 25 Hare Crescent, Raw Holdings, East Calder, EH53 0FZ

Valuator Address : 25 Hare Crescent, Raw Holdings, East Calder, Livingston, EH53 0FZ

Now the bank has asked us to update the address with "Livingston" in it. But my solicitor and builder is telling not to do it.

What should I do? My broker is asking me what to do? 

Proposed completion date is 6th December 2024. Should I abandon the purchasae?

No19v87

Only person I would be listening to is your solicitor who is representing you.

Sounds like a right mess and no fault of your own. I’d also be asking the solicitor who needs to be sorting it and ensuring they do.

anoopm50

No19v87 said:

Only person I would be listening to is your solicitor who is representing you.

Sounds like a right mess and no fault of your own. I’d also be asking the solicitor who needs to be sorting it and ensuring they do.

Hi,

One of the main issue is the solicitor, broker and builder doesn't speak to one another. Everyone asks me and I have to ask the other.

Is it always like that? Or do they contact each other normally?