House survey time frame?

[acealfa]

Hi, I had an offer accepted on a property back in early January and rather regrettably chose a mortgage company who have been a nightmare. Only now have I paid for the survey to be done but I have received a phone call from the estate agent who is concerned at the delay. At this point how long is it likely to take for the survey to be completed and sent back to the mortgage people?

Will the survey company let me know the date it is being done?

I'm slightly annoyed because it looks like I've been dragging my feet but in reality I've done everything as fast as possible and chased up others to get it done faster.

Thanks in advance

Edited by acealfa on Tuesday 1st March 12:19

Edited by acealfa on Tuesday 1st March 12:53

[walm]

Contact the valuer/surveyor direct.
Then ask.
YOU ARE PAYING HIM.

It will vary wildly but at this time of year he should be able to do it yesterday.

[Sarnie]

acealfa said:

Hi, I had an offer accepted on a property back in early January and rather regrettably chose a mortgage company who have been a nightmare. Only now have I paid for the survey to be done but I have received a phone call from the estate agent who is concerned at the delay. At this point how long is it likely to take for the survey to be completed and sent back to the mortgage people?

Will the survey company let me know the date it is being done?

I'm slightly annoyed because it looks like I've been dragging my feet but in reality I've done everything as fast as possible and chased up others to get it done faster.

Thanks in advance

Edited by acealfa on Tuesday 1st March 12:19

Edited by acealfa on Tuesday 1st March 12:53

How come you've only paid for the survey now if your offer was accepted in January?

A surveyor is unlikely to visit a property before being paid....

[acealfa]

Sarnie said:

How come you've only paid for the survey now if your offer was accepted in January?

A surveyor is unlikely to visit a property before being paid....

The process has gone like this..

-Mortgage agreed in principle
-Offer put in and accepted
-Ring mortgage company to complete mortgage
-Send over bank statements, ID etc.
-Get declined and told to speak to an advisor
-Reapply through the phone and speak to an advisor who advises I take the same deal I applied for online.
(All this has took 5 weeks, even with me continually phoning).
-Mortgage gets accepted finally.
-Survey people call me 10 days later to take payment.

They are doing the survey this Friday apparently.

I'm not happy to say the least. They declined me on 'affordability' which is ridiculous in it's self considering my wages vs. monthly payments. And their advisor even advised me to pay more each month??

It looks like I've wasted a good 4 weeks just dealing with these. I was attracted to the low rate but wishing I had just gone with my normal bank now.

[walm]

acealfa said:

The process has gone like this..

-Mortgage agreed in principle
-Offer put in and accepted
-Ring mortgage company to complete mortgage
-Send over bank statements, ID etc.
-Get declined and told to speak to an advisor
-Reapply through the phone and speak to an advisor who advises I take the same deal I applied for online.
(All this has took 5 weeks, even with me continually phoning).
-Mortgage gets accepted finally.
-Survey people call me 10 days later to take payment.

They are doing the survey this Friday apparently.

I'm not happy to say the least. They declined me on 'affordability' which is ridiculous in it's self considering my wages vs. monthly payments. And their advisor even advised me to pay more each month??

It looks like I've wasted a good 4 weeks just dealing with these. I was attracted to the low rate but wishing I had just gone with my normal bank now.

Sounds completely standard.
Affordability rules have changed completely and the monthly payments you actually make have almost no bearing on whether you pass the affordability test.
They stress test with a far higher interest rate set by the regulator.

This is what happens when there is a massive mis-selling of mortgages to people who can't afford them.
The regulations tighten and everyone whinges they can't get a mortgage any more.
Essentially the regulator can't win!!

Sarnie can elaborate I am sure.

[acealfa]

I understand what you're saying but seems madness they agree a mortgage in principle knowing my salary, value of property and amount borrowing then decline me on affordability when I literally have no out goings other than basic bills and living costs. My credit rating is well above average too. It feels like I've just been fobbed off in order to speak to an adviser & this process has put me weeks behind.

[red_slr]

We had 2 done last year - both times the survey was booked, completed and report arrived at lender all within a week from the payment being taken.

[walm]

acealfa said:

I understand what you're saying but seems madness they agree a mortgage in principle knowing my salary, value of property and amount borrowing then decline me on affordability when I literally have no out goings other than basic bills and living costs. My credit rating is well above average too. It feels like I've just been fobbed off in order to speak to an adviser & this process has put me weeks behind.

That's absolutely fair enough.
I guess I am just saying that I am not sure you would have got a better/quicker service anywhere else!
It's been a ball ache and delayed things but fingers crossed you are all done now and you haven't lost the house (yet!) which is the most important thing...!
Either way, very best of luck!

[acealfa]

Hopefully. Appreciate the replies as always.