Mortgage in scotland

6 replies

drnobody · 11/05/2023 20:37

Hi all,

Just curious whether anyone has experience of mortgage lenders actually visiting properties for survey or are they happy with the home report provided?

Currently in the application stage with nationwide and auto message says that it's awaiting survey. Are they actually waiting to visit the property?

Thank you

OP posts:

BuchananBaby · 11/05/2023 20:41

Bought 2 houses and the bank have never visited a property to do a survey. We were asked for a copy of the home report on both occasions and went with that. I presume they also do their own checks but that would all be online.

TheEverdelightfulsamantha · 11/05/2023 20:50

Yep, brought three properties and the valuation surveyor visited the property on two out of three occasions - pretty normal in my experience: https://www.hsbc.co.uk/mortgages/what-is-a-mortgage-valuation/

a quote from: https://chartered-surveyor-london.co.uk/mortgage-valuation-survey-what-do-they-look-for/#:~:text=on%20the%20application.-,What%20is%20a%20Mortgage%20Survey%3F,and%20has%20a%20limited%20scope.

“Lenders will conduct mortgage surveys in a variety of different ways. Traditionally, a surveyor will visit the property to inspect it and put together a short report, however, surveyors today are more likely to determine the value of your property using recent online sales data and taking a quick look at the property from the road in some cases. It is not always possible to predict which type of survey your property will be given.”

What Is A Mortgage Valuation? | Mortgages – HSBC UK

What is a mortgage valuation? Find out what it involves, what happens if the valuation is less than expected and how it differs from a home survey.

https://www.hsbc.co.uk/mortgages/what-is-a-mortgage-valuation/

Scotsgirl001 · 11/05/2023 20:54

I’ve just recently sold a property in Scotland and the buyers mortgage provided instructed a surveyor to come and carry out a valuation survey, this was in addition to one being provided in home report. But this might be due to the original home report being done a few months previous.

Original poster

drnobody · 11/05/2023 20:55

Thanks @BuchananBaby

I was just surprised to receive the message and then get wondered how long I'd end up waiting for someone to actually visit.

OP posts:

Original poster

drnobody · 11/05/2023 20:55

@TheEverdelightfulsamantha

Thanks for your reply, is this is scotland? So the mortgage company didn't ask for the Home Report?

Thanks

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chipsandpeas · 11/05/2023 21:02

some lenders may ask for a valuation if the surveyors arent on their list

Flip