Reasons Property Deals Fall Through: The Surveyor Finds Defects
Significant defects are spotted by your surveyor – will it cause the deal to fall through? Any major defects noted in your survey will need to be translated into hard cash. This means arranging builders’ quotes or obtaining specialist reports, typically...
What Happens If Your Mortgage Lender Keeps A Retention?
What to do if your bank holds back some of your loan as a ‘retention’ Mortgage lenders’ valuation report forms typically include a box labelled ‘Essential Repairs’ that the valuation Surveyor has to fill in. Depending on the condition of the...
What Happens If Your Mortgage Valuation Comes In Lower Than The Agreed Sale Price?
What If The Mortgage Valuer ‘Downvalues’ The Property? One of the most common problems with mortgage valuations is when the surveyor doing the valuation for your bank or building society values the property lower than the agreed purchase price....
Why Mortgage Valuations Go Wrong
Common Problems With Mortgage Valuations Late mortgage valuation The valuation should normally be instructed within a couple of weeks of submitting your mortgage application, but can sometimes be delayed when employment or credit references are slow or...
Mortgage Lending Property Issues
Mortgage Lender Property issue #1 Lending criteria – the type of property In an earlier blog it was mentioned that some types of property are not acceptable to certain mortgage lenders. This should only be an issue in rare cases where buildings are of...Save money by cutting out the banks
By arranging your home survey directly online - rather than via a mortgage lender - you can save the large chunk of the survey fee that the banks normally keep. They may still want to instruct a valuer to carry out their mortgage valuation, but don’t let them try to sell you an expensive Homebuyer or Building Survey from one of the large, target-driven, corporate firms on their 'panel'.
Testimonials
“We would like to put on record how impressed we were by the service we received. Rightsurvey unfailingly followed up our enquiries and concerns, and Nick’s advice on maintaining an older property is proving invaluable.”
Peter Spink, Sheffield
Recommended by the experts
Rightsurvey is featured exclusively in the Haynes Home Buying and Selling Handbook and also in the best selling Haynes Home Extension Manual.
