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Lenders valuation stuff

(4 Posts)
lostowl Wed 21-Sep-16 18:40:24

Our new lender is doing a valuation on our (hopefully) new house tomorrow. How long will it be until we know the result? It's TSB if that helps.

I'm a bit worried the valuation might come in lower than what we're offering because I worry about every little eventuality.

It's in a nice area and we've offered £183000 for it. The most recent house sale of a similar property and done up to the same standard was in Sept 2014 for £167000! Is that a big deficit or will house prices have increased enough in those 2 years?

lostowl Wed 21-Sep-16 19:29:33

Also a 2 bed sold this time last year, not to a great standard for £165000. So I think that shows that prices are growing in the street?

MrsPigling Wed 21-Sep-16 22:29:35

We had our survey (home buyers report so more than just the valuation) done last Thursday, the mortgage broker knew the valuation was good enough for the mortgage application yesterday (Tuesday) and we were emailed a copy today (Wednesday).

Hope you get the valuation you need smile

Optimist3 Thu 22-Sep-16 02:26:21

In my experience the surveyer often rings post survey. Then it's a 2-5 working day wait for the paperwork

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