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How long before the buyers should have a mortgage survey booked?

12 replies

Nutellaontoast19 · 23/07/2019 22:22

Maybe how long is a piece of string but generally how much of a wait would you expect for the buyer’s mortgage survey to be booked? Living on the edge waiting for things to move along!

OP posts:
wowfudge · 23/07/2019 23:09

We had ours within a week of the offer being accepted.

Pipandmum · 23/07/2019 23:12

A week or two. Mortgage company may be backed up but once instructed they need to make an appointment. Did buyers have mortgage offer in principal?

WBWIFE · 23/07/2019 23:28

Depends how busy. Mortgage company is

Nutellaontoast19 · 23/07/2019 23:37

Decision in principle was received between 1-2 weeks ago.

OP posts:
WBWIFE · 23/07/2019 23:41

Do you mean liek an agreement in principle? As they cna just be done online mostly anyway. It's not until the actual surveyor from the mortgage come sout that they will say yes or no to said agreement in principle. (as well as their finances)

MissingCoffeeandWine · 24/07/2019 08:11

Just for context, we’ve recently gone sale agreed. Had a mortgage in principle (for more money than being requested) and a decent deposit. Should have been ideal candidates for an easy route with the banks, but took just under a month to get to the point of survey with the bank. The vendors were worried, but the delays were all on the banks part. Twice due to annual leave, once to paperwork they lost! All approved now. A delay may not mean anything to worry about. Most of our timing was also that they wanted extra paperwork as we are both Irish (Live, work permanently, and pay taxes here)!

Blobby10 · 24/07/2019 08:49

I agreed a sale on my house on 6th July - buyers survey being done this Friday (they wanted last Friday but I couldn't be at the house for 3 hours while it was done!). I had offer accepted on a house on 13th July but mortgage advisor on holiday until Monday so nothing been done with my survey yet.

TankGirl97 · 24/07/2019 12:44

Ours has just taken about five weeks! We chased lots, not feeling massively impressed with hsbc at the moment Hmm

EmmaStone · 24/07/2019 15:19

We had our offer accepted on 7 June, had our mortgage offer 13 June, they said they didn't need a survey (turns out they did - that's another story). We booked an independent survey with a surveyor I know on 19 June who had quite a bit of work on. He surveyed on 7 July, and issued his report on 17 July, so quite a while after offer.

Nutellaontoast19 · 24/07/2019 16:51

Thanks for the replies!

OP posts:
Mildura · 24/07/2019 16:57

Ours has just taken about five weeks! We chased lots, not feeling massively impressed with hsbc at the moment hmm

That doesn't seem too bad - if I recall HSBC do things a little differently, all the mortgage approval checks get done prior to the valuation, and the valuation is the very last part of the process to happen. They effectively issue a full mortgage offer 'subject to satisfactory valuation.'

sandybayley · 24/07/2019 17:48

@TankGirl97 - @Mildura is right. Our buyer used HSBC and it took ages. Turned out they'd actually done a desktop valuation and not told our buyer and all was fine. Buyer then booked their own building survey.

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