darko
1024 posts since 4/10/12
7 Jan 2021 10:44
Is it normal for valuation/survey dates to be re-arranged?
Nationwide who are doing the valuation and building survey have moved our date around 7(!!) times now, taking the piss
7 Jan 2021 11:16
Weird. Dunno what the problem could be.
7 Jan 2021 11:36
Doesn't sound normal but then Christmas, New Year and the Coronavirus won't be helping.
8 Jan 2021 11:22
Most lenders are massively behind with valuations. Surveyors refusing to visit properties and xmas have caused a 6+ week lead time for surveys.
darko
1024 posts since 4/10/12
posted 8 Jan 2021 11:37, edited 8 Jan 2021 11:37
Would you mind pm’ing me Syd? I’ll give it a go.
Even our mortgage advisor is being fobbed off by them now, 7 changes is a piss take.
You can still go out to work and go into peoples houses if you can’t work from home so fuck knows what the problem is.
posted 8 Jan 2021 11:43, edited 8 Jan 2021 11:43
Many are refusing, they don't want to take the risk of catching covid for the £250 odd the lender will pay them for the valuation.
8 Jan 2021 17:38
£250? I'll do it for £200. Everyones a winner……
posted 8 Jan 2021 19:13, edited 8 Jan 2021 19:13
I had a survey done with Lloyds all done give or take 1-2wks in December.
10 Jan 2021 16:23
Crackajack wrote: Kadafi39 wrote: Many are refusing, they don't want to take the risk of catching covid for the £250 odd the lender will pay them for the valuation.
Isn't the valuation just 'drive by' so they look at the road / exterior and that's it (if that) and mainly base it on sold price data? I can understand a building survey being time consuming / backed up though.
Yeah some lenders are doing drive-by or desktop valuations, but some aren't and many borrowers opt for the additional home buyers survey.
Best
9893 posts since 21/10/05
10 Jan 2021 19:49
Just remortgaged through Habito and would highly recommend. Really straightforward to set up and easy to complete the process. The survey was booked and completed in 3 days. We had done significant renovation since the last survey and it was still a breeze despite a large increase in value.
The market is flying round here at the moment, on my street of 60ish houses two have listed and sold since the week before Christmas.
10 Jan 2021 20:47
Exchanged on my first flat just before Christmas. New build property with help to buy equity loan… since exchanging the complete date has been pushed back twice and developer is refusing to compensate or anything and resulting in my having to sort new living arrangements until it's finished… tempted to tell them i'm pulling out and seeing what they say but wondered if anyone's got any thoughts before i do..
R
13138 posts since 17/5/03
10 Jan 2021 20:56
check the contract. what's the long stop completion date?
posted 11 Jan 2021 11:07, edited 11 Jan 2021 11:07
chinaski wrote: Exchanged on my first flat just before Christmas. New build property with help to buy equity loan… since exchanging the complete date has been pushed back twice and developer is refusing to compensate or anything and resulting in my having to sort new living arrangements until it's finished… tempted to tell them i'm pulling out and seeing what they say but wondered if anyone's got any thoughts before i do..
Your solicitor should have agreed a long stop completion date with a special condition that gives the developer a certain amount of time, usually 2 or 3 months, past the anticipated legal completion date. If this isn't met you would have the right to rescind the contract.
Most sales offices will push you to their solicitor though, who usually have the best interests of the developer at heart so wont ask for anything to be changed and just blindly accept all the developers clauses.