Valuation booked for tomorrow-does that mean our mortgage is approved subject to valuation?

[threegreenbeans]

Getting a mortgage through HSBC, it went to the underwriters on Wednesday and we were informed that a valuation survey has now been booked for tomorrow.

Do you think this means they're satisfied with all the other documentation we provided (contracts, statements etc) and are happy to proceed if the valuation comes back ok?

It seems strange to do a valuation if they're going to reject our application on other grounds...?!

It's a pretty safe assumption.

Each lender has a slightly different process, but rarely would the lender instruct the valuation if there was something of concern in the other documentation.

Thank you, I'm really hoping that's the case!

I'm afraid it doesn't necessarily mean all is ok. Our first buyer had a valuation and waited a while before being told that a later credit check had revealed a couple of missed payments. Mortgage was not offered - that was with Halifax.

Definately not guaranteed. We had ours refused after valuation with nationwide.

They weren't satisfied with my earnings but we had no problems with another lender.

Not necessarily a safe assumption.

Some lenders do the valuation at the beginning and some do it at the end.

Some will charge you a valuation fee and immediately send the surveyor meaning you lose out if you don't progress.

Even the ones who value at the end will send the case to an underwriter for final checks before offer. Final checks seem to vary in their complexity.

Nothing is certain until the key is in your hand.

We've had 2 mortgages recently. One had a quick valuation and then took 3 weeks to offer. The other took 3 weeks to issue valuation and we had the offer couple of days after valuation. Just showed that some lenders first check if they can lend and then value, some do it the other way around. Depends on whether your valuation was issued quickly or after a few weeks?

Thanks for the replies everyone! We were lucky and got our offer the day after the valuation :-)