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Original poster

Structural Survey Requested?

28 replies

Leigh8721 · 06/04/2021 12:37

Hoping for some advice, though we was about to exchange then just been advised from EA that buyers mortgage provider has requested for them to have this survey!
Does anyone know if this is normal or should we be worried that things may now start going, can't believe how late it's been left everything else is all sorted searches, enquiries etc.

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BlueCherryBlossom · 06/04/2021 12:48

Our buyers lender requested that a structural engineer report be done, looking at a specific concern raised during their valuation. This was before they made their mortgage offer. It took about a month from booking the structural engineer to the lender being happy and offering to lend, and it was a worrying time for us, but the report eventually came back absolutely fine and we could move forward.

I think lenders are incredibly cautious at the moment. Annoying that they have left it until now!

dotdashdashdash · 06/04/2021 12:52

It suggests that a desk top valuation survey has not shown the house to be worth the price currently agreed. Either because there isn't sufficient information available or because something has been thrown up during it.

Original poster
Leigh8721 · 06/04/2021 13:05

Thanks for responses just can't believe how late it's been left for it to be requested they had been told they had their mortgage offer form broker. Looks like we will now have another delay!!!

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Original poster
Leigh8721 · 06/04/2021 13:06

They never did a desktop valuation they actually came into the property to carry out their mortgage valuation survey.

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Changingwiththetimes · 08/04/2021 17:17

Your lawyer should be informing you of this. Ask them for details. It is very late to be requesting it.

Original poster
Leigh8721 · 13/04/2021 10:27

So we have had our survey report back, the surveyor just looked for faults in everything. He has reported back that the roof is slightly bowing and a crack in one of the walls but stated no subsidence.
The house is over 100 years old so expected what effect would this have when this get's given to the lender.
I'm presuming all will be good but just curious on all your thoughts.

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Original poster
Leigh8721 · 27/04/2021 09:13

So the survey got carried out and returned to lender two weeks ago and we are still awaiting confirmation on this.
The lender raised two questions which have been answered so confusing as the mortgage has been offered and signed for but now all this still going on is this normal and is there anything to worry about when they do this?

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umbel · 27/04/2021 09:23

It seems odd that the mortgage provider is asking for a survey at this late stage, after having already approved the mortgage. Are you sure that is the case? Your buyers perhaps had an agreement in principle from the lender, but before the actual mortgage can be approved, the lender will want to do a valuation survey. Is this what they came to your house to do? Valuation surveys before a mortgage approval is perfectly normal, but for this to happen right before exchange is perhaps unusual.

Original poster
Leigh8721 · 27/04/2021 09:26

Hi @umbel they had their mortgage offer in Feb after valuation survey then beginning of the month lender had asked for structural survey which had been missed by solicitor now it seems to just keep going on. They are insistent and agents and solicitors that they have and have signed their mortgage so #i just don't understand what to do.

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umbel · 27/04/2021 09:46

If the lender wants a structural survey, they may have reason to think there are structural issues with the property. If this is the case, they may be unwilling to lend against it, regardless of whether they said previously that they would. They will want to know that the money they are putting in is safe. I think you just have to sit tight and wait until they have finished their investigations and are either satisfied or withdraw the mortgage offer. They may insist that repairs are done before they will lend, or they may withhold some of the loan until your buyers make the repairs within a set time frame after taking ownership (assuming they can somehow make the shortfall for the purchase - they may need to renegotiate the price they are willing to pay). I can understand why you are anxious.

Original poster
Leigh8721 · 27/04/2021 10:00

Just want it sorted just can't believe how late this has been left into the process

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Flippyflops2021 · 27/04/2021 13:32

I hate it when they pull these last minute things out of the bag... we are hanging on waiting to see if buyers lender is happy with an indemnity policy I’ve had to take out.

I really really hope THIS is the last thing for us!!

Original poster
Leigh8721 · 27/04/2021 13:34

It's awful it's been so long waiting as it is now we feel like we are at the beginning still waiting. What policy is that?

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Onandoff · 27/04/2021 13:49

Odd to do this now as the valuation survey would have been approved to release the mortgage offer. I suspect your buyers have suddenly decide they want it and are deflecting blame onto the mortgage provider...

Original poster
Leigh8721 · 27/04/2021 13:54

That's what I thought at first but I have seen emails from their solicitors to my estate agents stating that the lender has requested these.

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Onandoff · 27/04/2021 13:56

@Leigh8721

That's what I thought at first but I have seen emails from their solicitors to my estate agents stating that the lender has requested these.
Hmm it just seems a bit of a strange order of events. Once the mortgage offer is issued that’s normally it.
Original poster
Leigh8721 · 27/04/2021 13:57

I know I really don't understand it this has been going on nearly 3 weeks now

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PresentingPercy · 27/04/2021 14:18

Cracks in walls can be caused by roofs not supporting the weight of tiles. The weight in a roof goes down the walls into the ground. It might be an issue. Whether it’s late or not, the lender might not see this as a good investment and wants to make sure the house is sound.

Never, ever, think that just because a house is 100 years old that lenders are very lenient. Why should they be? If there is a structural fault the house is devalued in their eyes. So it needs a full report and I’m not surprised. There is great activity in the housing market and everyone is busy - hence delays.

Original poster
Leigh8721 · 27/04/2021 14:47

@presentingpercy my question more was is why leave it until the week before exchange and completion had been set and also why issue and have their mortgage offer signed then confirm this so late on. I'm not saying their not entitled to check so would I as I did so when I brought it two years ago.

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umbel · 27/04/2021 15:11

Perhaps there have been problems with other properties nearby, or maybe the surveyor who did the initial valuation has been discovered to have missed important things on other properties they surveyed, so they are double checking the work. Maybe the valuation raised something they were happy to overlook but now want to investigate further. Perhaps the mortgage needs to be underwritten again and the underwriting dept is very busy. Could be any number of things. It is unusual, you’re right, but there will be a reason for it. You said they have since raised two questions, which have been answered. Did those questions not give you any clue what the problem might be?

Flippyflops2021 · 27/04/2021 15:38

@Leigh8721 indemnity policy is for a loft room. We use as a bedroom, it’s not been ‘sold’ as a bedroom, only attic room. But they want an indemnity policy. It covers new owner against legal action or work to alter or correct work to get building regs. It was £20...

PresentingPercy · 27/04/2021 18:51

It’s been delayed because they didn’t get round to it! It’s that simple. They presumably were not in the loop about exchange date. They are just looking out for their money so as long as it’s before exchange and a surveyor is available, that’s what matters. It’s just the busy market right now.

PresentingPercy · 27/04/2021 18:55

Just because answers were given to the lender, it doesn’t mean they agree with them. They clearly want a more detailed assessment of the issues. The mortgage offer was months ago I think you said. They want more info now.

Original poster
Leigh8721 · 28/04/2021 15:02

So finally received the update and the surveyor has confirmed it is a long standing issue and not progressive which I believe is what we wanted to here. The lender has now sent this back to the original valuation surveyor to answer so who knows what happens now guess we just keep waiting. So stressful

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BlueCherryBlossom · 28/04/2021 15:42

Can't believe this is still dragging on for you! Sad