Speeding up mortgage valuation

[stressedhomemover]

Hello,

Wondering if anyone can advise on speeding up a mortgage valuation?

Our bank offered a combined mortgage valuation and survey. But this is taking too long to book in.

So we have found our own surveyor who can do the survey next week. But the bank have allocated a valuation to a firm that can't do it for ages!

Is there anyway we can expedite this?

Thanks.

Sorry the title should be property valuation!

Don’t think so. All banks need to do a valuation regardless of whether you get an independent survey. You are at the mercy of their backlog/wait times. Ours took 6 weeks from application going in to them doing a bloody desktop valuation. They didn’t even visit the house 😫

Our independent survey was done in & back in 7 days. And then we waited.. however, the mortgage offer still came back quicker than the solicitor enquiries, so it wasn’t a problem in the end.

Some banks are running better than others. We used NatWest & they were very slow to do everything. My friend used Santander at the same time & a bit quicker..

I can't bear being at their mercy!!! It's so frustrating!!! I have tried calling my broker to see if there's anything he can do. It is stressing me out as everything else is working out smoothly but this sodding valuation is doing my head in!

We've just sold out house. The buyers' mortgage offer held everything up, and that wasn't down to the valuation, it was the volume of work lenders are currently facing, changes in working processes thanks to covid, and staff sickness. Their mortgage offer took almost two months from start to finish. Talking to our conveyancer, they are taking on average over 40 days, so although our buyers' was particularly slow, I think your going to have to be patient.

Ours was around two weeks but was at Easter, you have to use their valuation as it’s their criteria etc. We used a private surveyor too. it didnt speed it up.

Then do t get me started on solicitors dragging their feet..... on a very simple chain free sale too.

Feel your pain but it’ll be worth it eventually

The offer is there it just needs the valuation to rubber stamp it, as it were. Legal side is progressing fine too. The valuation is the thing that is currently looks like it may hold things up. It's literally a 20min job for someone to do.

Thanks for your stories - feel like I'm not the only one.

The bank have instructed a particular firm. Could you try ringing the bookings department at that firm to try and bring it forward? If your clever you might be able to find out the name of the values and ring them direct. My DH is a surveyor and often despairs at his bookings team. Their job is difficult as all the surveyors like to work differently. He regularly brings jobs forward in his diary so he can work more efficiently in a particular area.
Might be worth a try.

Thanks @ProperVexed I had rang the firm but didn't think to try and contact the individual surveyor. I will try that.

Which firm is it? ( just in case I can help a bit more.....)

All depends on the bank, ours took 10 days from application to offer, the valuation was online, they didn't come out. We didn't bother with a survey as it's new ish

Should have said, this September

Our whole mortgage process took 2 months, which was still considerably shorter than the conveyancing process of 15 weeks. Unless your conveyancing is done or nearly done and the valuation is actually holding up the process I would try not to stress.

We got in touch with the surveyor that had been instructed for the valuation and they agreed to put us on the cancellation list. The valuation ended up taking place almost 4 weeks early, you just have to make yourself a friendly nuisance

It’s the bank’s money so they want their own advice on the value of the property, not someone appointed by you with no link to them. 3/4 weeks is fairly standard to get an appointment. You could keep pressing but I wouldn’t accept 8 weeks. They might be using several firms. They do have other info they can look up, eg local sold prices, construction etc. If it’s a high loan/value deal, they will want to visit.