Vendor threatening to pull out after 6 weeks

[AnxietyForever]

So we've only just had our mortgage application approved on Tuesday, survey yet to be booked.
Payment for searches on Tuesday to solicitor (waiting for mortgage acceptance)

Vendor apparently really concerned it's taken 6 weeks to get to this point.

Given us 1 week for the survey to be booked via the bank or is pulling out.

We're FTB so this is all new to us, is the estate agent having us on or is this how is goes?

@AnxietyForever

Ok just to clear up some points

Our broker said we don't need our own survey because the mortgage company will do one?

Broker also said not to pay for solicitor to do searches until mortgage was approved

Apparently mortgage has been approved subject to valuation which is what we're waiting on now?

Mortgage broker said we didn't need our own survey because the mortgage company will book their own (which we pay for)

Mortgage offer took a while because I was on maternity leave (back now) and needed a few follow up documents which took some time to be verified

Have I been given bad advice from broker?

The broker doesn’t know what kind of survey the mortgage company will do. That’s up to them. Many are only doing desktop valuations. You’d be mad not to get a more in depth one unless you are buying a house less than 5 years old.

If you’d already gone through an affordability check and had a MIP then you should have started the searches straight away. The broker would only say not to if they doubted you would get a mortgage for that amount.

And our searches took from October to December to be completed (extra mining reports had to be obtained).

Sounds like the broker has given you advice based on the fact that they didnt think you would get a mortgage.

Did your broker tell you to get the mortgage agreed first to make sure you would definitely get it? Otherwise, I can’t see any justification for their advice and your application could possibly take so long now that you will need to reapply for it.

I think your broker is not giving the best advice. Have you got a solicitor? You can’t rely on the mortgage company’s survey so if you don’t get one of your own and there is an utter disaster (roof falls in) you will have no claim against the surveyor as their client is the mortgage company. I would have a word with the estate agent, explain what has happened and then speak to your solicitor to make sure they know that you want to get this moving ASAP.

I think a lot of the responses seem to be confusing the valuation survey and the fact that many lenders will offer you the ability to get a (homebuyer's report) survey as an additional extra which it seems like the OP has done. It's just it tends to be quite a bit cheaper than getting it done independently, but is exactly the same if it's RICS approved.

However, most lenders usually get it done at the same time of full mortgage application not wait until the full mortgage offer, well certainly my lender and others I have spoken to.

There is nothing to indicate the valuation survey has taken place, which is why I asked which lender it is. As a seller you wouldn't know if it was just a valuation survey being carried out and it would be one of the first things to happen after a sale was agreed. If no survey has happened at all, that seems really odd.