How long for house valuation with mortgage company?

[XjustagirlX]

Hi
We have had a basic house valuation on the property we are hoping to buy. It is with Halifax bank.

Does anyone know how long it takes until we will know what the valuation is?

We have got a full surveyors report booked in next week but we are wondering whether we should delay by a week or two to see what the bank has valued the house at.

Thanks

Normally it takes a couple of days for the surveyor to type up and electronically send. Then it'll take a couple of days for underwriting to look at it. Then the offer should be produced which is when you would normally get a copy of the valuation.

We had a valuation from Esurv via Halifax (they wouldn't do the full Home Buyers) and got their report 3 days later. Not yet had the full survey as surveyors so busy. ESurv valued it 5k less than we offered so waiting to see what Home Buyers says before we do any negotiations.

My dds have both bought houses in 2021. Both of their lenders did desktop valuations within 2 days of their application.

I think desktop only happens with properties below a certain price though.

Halifax went to value the property we’re buying on the 22nd Dec, we heard back from our broker about the value on the 29th, so pretty quick considering we had Christmas in between. We got a letter confirming everything on 30th. They definitely sent a surveyor, it wasn’t desktop in our case.

We had valuation done about 2 weeks after offer and we heard back maybe 5 days later. This was with HSBC.

With Skipton the valuation took place within 3 days and the report was back inside 24 hours.