Backlog on Abbey Valuation surveys?

jammie*dodger

Our buyers haven't done their survey yet. They are being told that the valuation survey has a backlog. Has anyone else had the same problem? Or is this a stalling tactic.

Cheers. Rob.

minimike2

Yes. Abbey took six weeks to organise a valuation on one of my clients properties.

Of course I re-placed the business elsewhere because of the delay, but thats the kind of service levels Abbey have been working to....

jammie*dodger

Shame. Not up to me I suppose and given that they are first time buyers I suspect they are glad they can get a mortgage. Oh well, just another 3 weeks wait then.

Cheers, Rob.

BenL

There is an article on the BBC website about Abbey have increased their market share rapidly recently due to the strength of their owner Santander.

Bursting at the seams I guess.

minimike2

Brokers arent even allowed to call thier processing centers for updates on cases unless its to amend something.......its terrible!

bevb_2

Hi rob,
We're in exactly the same position. we accepted an offer on our house cause the people were in a good position and we need to move quick, then we found out from the EA yesterday that their mortgage is thru the Abbey and we have no idea how long the valuation is going to take. The EA said some people have been waiting weeks. Guess we're just going to have to be patient, it would be nice to have a better idea of timescale though.

jammie*dodger

We've been told 6 weeks in total. They paid their valuation fee 3-4 weeks ago. Apparently it's all done bar this. Hope the valuation works out ok (it should given the amount we dropped by) otherwise all their search fees, etc will have been wasted.

Hopefully this means we'll be done in 3 weeks or so.

Rob.

jammie*dodger

Has anyone had any word on this yet? We've just secured our mortgage - sods law says that we've gone with Abbey too. Doh!

Glad our purchase doesn't have to complete at the same time as our sale.

Rob.

bevb_2

Hi Rob,
We're apparently going to be given a valuation date by early next week, it's been 3 weeks today since we accepted their offer and they had their mortgage pre approved. We're a bit worried now though cos they've apparently forked out £800 for a valuation, which sounds a bit too much for a simple mortgage valuation. We've dropped our house by quite a lot too and are a bit concerned that they're going to want even more off after a valuation.
Bloomin nightmare.
bev

simcla

I posted my application on Monday (bank holiday) and they are going to value the property on Monday next week! may depend on how busy the surveyors are in your area

jammie*dodger

Update: after all that delay and Abbey actually carrying out the survey they have then gone and denied our buyers the mortgage on affordability grounds. They are now applying via someone else. But this just means more delays.

Oh well, no use crying over spilt milk.