Reasons Property Deals Fall Through: Buildings Insurance Problems

Reasons Property Deals Fall Through: Buildings Insurance Problems

  What If You Can’t Get Buildings Insurance? Surveyors doing mortgage valuation inspections are normally asked to comment in the lender’s report on any matters of concern, particularly where there could be implications for arranging buildings insurance. This can...
Reasons Property Deals Fall Through: The Surveyor Finds Defects

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 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 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....
Mortgage Lending Property Issues

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...