Confused over survey + HIP delay query

otter1_2

Had an offer accepted on a 3-bedroom flat last Friday, instructed solicitor and spoke to mortgage broker same day. Mortgage broker came up with a recommendation which we agreed to take over the weekend and the formal application was submitted on Tuesday afternoon. As part of the application, we were asked whether we wanted a valuation, Homebuyers survey or full structural survey. The flat is 1960s construction and in good nick, so I plumped for Homebuyers. But now I am confused as to who organises this survey? Will it be the lender, or should I be doing something? Should my solicitor be involved?

Also, I spoke to my solicitor this morning, who said she was waiting for the draft contract from the vendor's solicitor. She said if I wanted to feel useful I could contact the EA to chase it up, so I did, and the EA told me that they couldn't issue the draft contract until they had finalised the HIP. The flat was put on the market just before Christmas - shouldn't they have had the HIP in place before marketing? Is it right that they can't send the draft contract until they have this? Is there anything I can do to chase up the HIP?

I'm feeling a bit helpless at the moment. Friends and family (and OH - he's leaving everything to me! :rolleyes: ) keep asking me how everything is going and I feel like I should be making more progress than this. I appreciate that in the general scheme of things, a week isn't very long, but it feels like an eternity!!

no1gymbunny

It is an annoyingly slow process! The lender will organise their own valuation of the property. You will need to organise your own Homebuyers valuation. Maybe speak to the EA to see who they recommend. The people you are buying from - what are their plans? Are they buying a new home or going into rented accommodation? If they are buying another property, you need to find out what those peoples' plans are, right up to the end of the chain. Keep in touch with the EA - they will have all this information.

Remember to shop around for your contents insurance.

17Dave

The homebuyers report should be arranged by your lender.

The HIP is supposed to help the buying process!!!!
You only have to show that one has been ordered / instructed in order to market the property. Keep chasing and get your broker involved to help and support.

17Dave

I'm sorry to disagree with the OP but it is only the full structural survey that you need to instruct yourself. No harm in ensuring the lender has instructed properly though.

dweeby

otter1 wrote: »

But now I am confused as to who organises this survey? Will it be the lender, or should I be doing something? Should my solicitor be involved?

Also, I spoke to my solicitor this morning, who said she was waiting for the draft contract from the vendor's solicitor. She said if I wanted to feel useful I could contact the EA to chase it up, so I did, and the EA told me that they couldn't issue the draft contract until they had finalised the HIP. The flat was put on the market just before Christmas - shouldn't they have had the HIP in place before marketing? Is it right that they can't send the draft contract until they have this? Is there anything I can do to chase up the HIP?

Mortgage lender organises the survey normally, but you can organise it yourself (in consultation with them - but you might end up paying more). Incedentally, we're going for the simplest (and cheapest!) "valuation" - not a survey at all. Someone spends 10-15 mins in the house and we're billed £200.

Prior to Jan 1, HIPs were on some sort of temporary scheme. It was ok to market a house before the pack was ready. Houses that went on the market from Jan 1 should have them before being marketed.

We're in excatly the same situation as you, our offer was accepted on Monday just gone. We've rushed round and all contracts, information, everything is with everyone, and we're waiting. The house we're buying went on the market last week, so the HIP should be available - but it isn't.

Our mortgage is through First Direct (at a really super rate), but they're saying 6-8 weeks to get the money - for no other reason than they're busy.

The only thing we've yet had sent to us from anybody is confirmation of our offer, and the letter details both sides solicitors etc. Now the long (and uncertain) wait! let me know how you get on....

otter1_2

Thanks for the advice so far.

no1gymbunny - the property is vacant. It was being used as a pied a terre. However, when we went for a second viewing, there was someone there who was having a shower - gave the agent quite a fright!! I am in unfurnished rented accommodation at the moment, so already have a relationship with a contents insurer, but I'll check again when moving, because I know it's a good time to start over. I think buildings insurance is covered by the service charge, but I won't know this until my solicitor gets the information through (and I won't get this until the flaming HIP is done!).

17Dave - so the survey will now be completed by the lender who will then pass me the results?

dweeby - thanks so much for your response. It's a relief just to know that I'm not alone in this and everything is proceeding as normal.

I just wish things were moving quicker. I want to start working out where everything's going to go and what new things we will need to buy/beg from friends and family, but OH says I can't start doing any of that until we are in a more secure position, which I know won't be until exchange. Exchange seems miles off when we're one week in and haven't received any paperwork from the vendor. We have a formal letter from the EA to confirm that the offer was accepted, but I know that's not worth the paper it's written on.

no1gymbunny

You're right re the buildings insurance - that should be covered by the service charge. I know you won't want to hear this, but please hold off shopping for new things until you are a lot further through the transaction. I was the same as you - I couldn't wait, but you have to try and keep calm!

Might be an idea to find out who that was in the shower if it wasn't the owner - they have a key!!

In my experience, solicitors don't look at HIPS anyway.

Jorgan_2

At present the HIP only has to be commissioned before the property can be marketed, no information physically has to be in place for the property to go on the market.

otter1_2

Jorgan - I think I understand the HIP thing better now, but it is a nuisance!

no1gymbunny - I know you're right, of course. So frustrating!! All the more so for the HIP advice being pointless. I know I want to buy the place and my solicitor has to carry out the searches anyway, as part of their due diligence. I intend to be very specific about asking for all keys to be passed to me upon completion, yes, as the presence of a third party raised all manner of questions in my mind!

The vendor was listed as "Mr. Smith c/o Mrs. Jones" (not real names, obvo) in the EA's offer accepted letter. Is this a matter for concern?

Jorgan_2

otter1 wrote: »

The vendor was listed as "Mr. Smith c/o Mrs. Jones" (not real names, obvo) in the EA's offer accepted letter. Is this a matter for concern?

Do you know why there is a third party involved? There may well be a straight forward reason, but its worth asking the question.

Change the locks on the property, you can ask for all the keys but you may never get them all.

I am intrigued as to why no contract has been issued, its probably got something to do with the leasehold/management side of the sale. Ask you solicitor to find out exactly what the delay is.

dweeby

All you need to know:

http://www.homeinformationpacks.gov.uk/