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  • FIRST POST
    • adonis10
    • By adonis10 7th May 16, 11:17 AM
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    adonis10
    Direct valuations - HSBC
    • #1
    • 7th May 16, 11:17 AM
    Direct valuations - HSBC 7th May 16 at 11:17 AM
    Any experience of this company for building surveys?
Page 1
    • marksoton
    • By marksoton 7th May 16, 11:41 AM
    • 16,508 Posts
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    marksoton
    • #2
    • 7th May 16, 11:41 AM
    • #2
    • 7th May 16, 11:41 AM
    What do you mean by direct valuation? As far as i'm aware HSBC instruct a seperate valuation company.
    • adonis10
    • By adonis10 7th May 16, 11:43 AM
    • 1,570 Posts
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    adonis10
    • #3
    • 7th May 16, 11:43 AM
    • #3
    • 7th May 16, 11:43 AM
    What do you mean by direct valuation? As far as i'm aware HSBC instruct a seperate valuation company.
    Originally posted by marksoton
    By "direct valuations" I mean http://www.direct-valuations.com

    So, direct valuations.
    • marksoton
    • By marksoton 7th May 16, 11:49 AM
    • 16,508 Posts
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    marksoton
    • #4
    • 7th May 16, 11:49 AM
    • #4
    • 7th May 16, 11:49 AM
    Ah i see, i thought you meant a direct valuation by HSBC themselves.

    Can't say i've heard of them or seen them commented on on the boards.

    Might be worth also posting in the mortgage sub forum.
    • joeistheone
    • By joeistheone 7th May 16, 4:51 PM
    • 47 Posts
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    joeistheone
    • #5
    • 7th May 16, 4:51 PM
    • #5
    • 7th May 16, 4:51 PM
    They don't actually do the valuations. They just organise the booking of a surveyor on behalf of HSBC. So your actual surveyor will be a different RICS surveying company/individual/partnership.
    • shardi2209
    • By shardi2209 8th May 16, 10:56 AM
    • 28 Posts
    • 3 Thanks
    shardi2209
    • #6
    • 8th May 16, 10:56 AM
    • #6
    • 8th May 16, 10:56 AM
    We are getting a mortgage through hsbc and used direct valuations. They were ok, saw the bank tuesday evening and direct valuations then texted(!) me on Thursday afternoon to ask me to ring them rather than ringing me directly. I rang them back, paid the valuation/survey fee and then had to wait til a surveyor was allocated from their panel. Had to chase them a couple of times. It took 3 working days to allocate someone. We got white horse surveyors who are awful. The valuation was absolutely fine and got to the bank after 2 days but they don't ring when they say they will, we've had to chase lots of times and never get a call back. Our homebuyers report was done on 27/4 but still waiting for the report that is only supposed to take 3-5 working days.
    • dc197
    • By dc197 8th May 16, 7:11 PM
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    dc197
    • #7
    • 8th May 16, 7:11 PM
    • #7
    • 8th May 16, 7:11 PM
    Yes, as Joe has said they just outsource. Their outsourced company were not brilliant, they missed an issue that they should have spotted. Valuations direct were also pretty shoddy about arranging things, they gave me the run around about booking with the contractor, not on the system, can't find the booking, can't get hold of them, blah blah blah.
    Still, even if I recommend against them... What are you going to do, demand HSBC change their agent?
    • adonis10
    • By adonis10 9th May 16, 9:20 AM
    • 1,570 Posts
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    adonis10
    • #8
    • 9th May 16, 9:20 AM
    • #8
    • 9th May 16, 9:20 AM
    Yes, as Joe has said they just outsource. Their outsourced company were not brilliant, they missed an issue that they should have spotted. Valuations direct were also pretty shoddy about arranging things, they gave me the run around about booking with the contractor, not on the system, can't find the booking, can't get hold of them, blah blah blah.
    Still, even if I recommend against them... What are you going to do, demand HSBC change their agent?
    Originally posted by dc197
    Good to hear your experiences.


    The agent I'm not so worried about (annoying as poor service may be), as I am far more concerned about the surveyor they get to come and do the job; a little concerned at this stage as I've no idea which surveyor may be employed to do the work - no knowledge of them, no recommendations etc. Really rather worried that they may just rush through it and miss something important (structural, damp etc.).
    • PawelMag
    • By PawelMag 20th Oct 16, 2:59 PM
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    PawelMag
    • #9
    • 20th Oct 16, 2:59 PM
    got intentionally wrong information in the valuation report
    • #9
    • 20th Oct 16, 2:59 PM
    hi all,

    I have a bad experience with them. The surveyor wrote down intentionally incorrect information about the any work undertaken for my house.

    The property is of a PRC construction and I told the surveyor that there was approved repair work undertaken on the property in 1989 and I have the PRC certificate for this. I mentioned that to the surveyor three times as I thought it's very important that he knows that I have a certificate which I have already provided to the bank.

    Unfortunately the surveyor still wrote down the incorrect information and wrote that no approved repair scheme is understood to have been undertaken on the property and it is therefore considered unsuitable for the mortgage security.

    I just made a formal complaint about this guy.

    Kind Regards
    • Arc_1
    • By Arc_1 2nd Nov 17, 7:59 PM
    • 1 Posts
    • 0 Thanks
    Arc_1
    Terrible service from direct valuations ltd
    They valued my buy to let in Aug this year and downvalued it by ten grand easy. Then they only mention the passing rent of 750 per month I get and house valuation on the report however then seem to tell HSBC my house is only worth 700 a month in rent. Even though I'm already a HSBC customer for this mortgage the last ten years and no money is changing hands as part of my switch into a fixed rate from variable, HSBC now won't borrow the full amount, they say it is because my rent does not meet the minimum criteria. So people, don't use this valuer or HSBC as they offer good rates but rarely let people switch to them. Can't even complain to the valuer as I have to go via HSBC to query the report even though I paid 175 quid for it. Disgusting.
    • davilown
    • By davilown 2nd Nov 17, 10:32 PM
    • 1,482 Posts
    • 946 Thanks
    davilown
    I can't criticise HSBC and the valuers/surveyors they used - took 2 weeks but they were a local company and the ones I chose on my previous purchase. Their report was along the lines of - It's a 60 year old house so the electrics may need looking at but they look ok at the moment
    Back in Debt 226,500 on a 230,900 mortgage) Overpayment 237 pm - Aim to be Mortgage free by 2034
    27000/27000 paid off Feb 2010 since LBM Jan 2007!
    • Tayz
    • By Tayz 7th Feb 18, 9:30 AM
    • 2 Posts
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    Tayz
    If you're not happy with Direct Valuations...
    I'm going through this process right now having instructed HSBC to conduct a RICS homebuyer report yesterday (6th Feb 18) on a property I intend to buy (under a tight deadline so I will be chasing everyone). Typically people only have something negative to say online, so hopefully someone with good experience of DirectValuation can pop a post on, but i'll intend to follow this up with a post after the whole process to let you all know my experience.

    In response to this current thread though ....If you opted for the RICS homebuyer report or upgraded building survey by a RICS appointed professional, then you always have recourse to make a direct complaint as every RICS member/firm needs a complaint handling procedure or complain via RICS themselves at the Website and follow 'Regulation> complaints' If valid, this goes directly on their professional record.
    • Tayz
    • By Tayz 20th Feb 18, 8:50 AM
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    Tayz
    Following on from above as promised the survey was instructed by HSBC to SDL Valuations (Direct Valuations) who are a management company of many independent local surveyors across the nation. They have access to these peoples diaries to schedule the dates/times of valuation visits and you get direct correspondence with the RICS Surveyor as you have to sign a client acceptance form. The report is then returned to HSBC and copied to you directly. In Basingstoke Upton Crescent house I just recently attempted to purchase, a local surveyor was appointed with 2 days and the survey complete before the end of the following week. All positive from my experience and took just under 2 weeks from instructing HSBC to having the report in my hand.
    Unfortunately in this case the entire area in this part of basingstoke is rendered pre-cast concrete frame houses (not obvious as no lines or panel appearance due to render) which the big name highstreet lenders usually dont lend against - so our purchase has fell through unless we have a 40% deposit!...so be aware that any 'unusual construction' (which is anything other than brick/blockwork and a pitched roof) will be a stumbling block to lenders and be sure to ask the question of estate agents early rather than pay the 300 for a report to tell you so.
    • BartyBoy
    • By BartyBoy 6th Mar 18, 4:02 PM
    • 404 Posts
    • 40 Thanks
    BartyBoy
    It may be a bit too late for me, but I am in a process of purchasing a property and my mortgage broker has introduced me Direct Valuations to do a full building survey. One of their guys (Direct Valuations) phoned me a month ago trying to book me an appointment for the survey, but I told the guy I hadn't yet received a mortgage offer, I said I would get the broker to contact him instead.

    The same guy emailed me a couple of weeks ago asking for an update so I forwarded the email to the broker to follow up. Again, the mortgage offer wasn't yet issued, so he couldn't do anything.

    Then last week, my mortgage offer has finally come through and I thought the broker has made in touch with Direct Valuations, but when I just asked the broker the question yesterday, the broker was quickly writing to Direct Valuations to arrange an appointment.

    The same guy from Direct Valuations phoned me yesterday saying he will book a surveyor for me and it will take up to 10 working days for the full building survey to be done. Then another 7 working days to get the report sent to me.

    And now, after reading some comments about Direct Valuations here, I am a bit worried and concerned. I have been once told not to bother with any surveys because if anything goes wrong with the property, these surveyors will not take any responsibilities, apparently their reports are full of small prints to protect themselves. But then I read an article on a well-known newspaper, the reporter said no matter what property it is, a full building survey should always be done, and this is why I decided to get a full building survey. As a sole buyer, I thought it would be wise to pay a professional to inspect the property for me. I hope my 725 is not wasted...
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