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Discussion Starter · #1 ·
I’ve finally found a house and had an offer accepted. Two bed cottage, village location. It’s been years since I bought my last house I can’t remember it at all.

What order do I do things in ? Mortgage app is in. Do I wait for an offer before forking out on a survey? It’s an older building so needs one.
 

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Have you a solicitor to deal with the conveyancing? How long will the bank take to confirm an offer?
Happy that you have found somewhere, I hope it all works out. Where about s (roughly) will you be?
 

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Discussion Starter · #3 ·
Have you a solicitor to deal with the conveyancing? How long will the bank take to confirm an offer?
Happy that you have found somewhere, I hope it all works out. Where about s (roughly) will you be?
I have a solicitor they are all set up. Mortgage offer I don't know how long it takes two to four weeks by the look of it. I'm just on the bucks / Oxfordshire border.
 

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No idea how much a survey costs these days. Do you think the bank will lend what you want? If you’re pretty certain then I would go ahead. They will also do a survey although not a detailed one, just one that makes sure the house is not about to fall down and they will be able to sell and get their money back. Some people don’t do their own survey and rely on the bank one, ok with a modern house, less so with an older one which may have issues.
 

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Discussion Starter · #6 ·
No idea how much a survey costs these days. Do you think the bank will lend what you want? If you're pretty certain then I would go ahead. They will also do a survey although not a detailed one, just one that makes sure the house is not about to fall down and they will be able to sell and get their money back. Some people don't do their own survey and rely on the bank one, ok with a modern house, less so with an older one which may have issues.
So far I've been quoted £895 which seems steep ! I'm getting more quotes. I'm not even sure what level survey you have done. I'm hoping the bank will lend what I want I got it for under asking.
 

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The bank and therefore mortgage offer should be very quick. Our broker submitted all of the answers to the questions and figures etc and we had a decision pretty much immediately with how much we could borrow and this was sent out officially via email very quickly as well, far from 2 - 4 weeks.
 

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Yay, fantastic news! Congratulations!!!

I think the bank dictate the minimum survey they want done? When we bought our house, the estate agents were actually really lovely and helpful, explained everything I didn't understand - would definitely suggest asking them any questions you have.

We paid about £650 for a structural/building level survey (can't remember which it was called).
 
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So far I've been quoted £895 which seems steep ! I'm getting more quotes. I'm not even sure what level survey you have done. I'm hoping the bank will lend what I want I got it for under asking.
I've been getting estimates on property surveys the last couple weeks. The estimates have ranged from $1,500 through $2,600 (USD), on my tiny lot! Pure gouging in my opinion and I have decided that a survey is currently going to have to be slotted to luxury status. Fuel prices and food prices rise daily, I just can't justify the expense.

I didn't realize it wasn't done when I bought the house so was planning to do it now, but it's going to have to wait.

Enough about me, but wanted to share what I am encountering here cost wise.
 
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I bought a new build and still got a full survey. My parents bought a bungalow that wasn’t too old and did the same. They later found a fault that the surveyor should have found so were compensated for it.

It’s been nearly 20 years since I bought my house so I’m at the end of having a mortgage. The best piece of advice I can give is overpay when you can. My mortgage payments halved as a result. It meant that when I got a letter today that the interest rate had gone up it only added 20p a month.
 

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Congratulations! I would get a full survey done. It seems a lot but it would be worth it. If something is wrong , it could cost much more than that to repair.
A survey isn't about condition, it's about property lines. Or maybe the terminology is different between US and UK?. When you buy a home in the US you pay for an inspection to be done by a licensed inspector, that is where you find out if there is anything severely wrong with the house. That cost me $495 (USD).

A survey, like I was talking about above, is to determine property lines.
 
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Discussion Starter · #14 ·
A survey isn't about condition, it's about property lines. Or maybe the terminology is different between US and UK?. When you buy a home in the US you pay for an inspection to be done by a licensed inspector, that is where you find out if there is anything severely wrong with the house. That cost me $495 (USD).

A survey, like I was talking about above, is to determine property lines.
It's condition here they look out for things like damp or structural movement. This is an old property so hopefully any problems will be flagged up.
 

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It's condition here they look out for things like damp or structural movement. This is an old property so hopefully any problems will be flagged up.
Okay. So what I would call an inspection. So your cost sounds high for that, but everything is so high now, it's difficult to make any comparison.
 
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I've finally found a house and had an offer accepted. Two bed cottage, village location. It's been years since I bought my last house I can't remember it at all.

What order do I do things in ? Mortgage app is in. Do I wait for an offer before forking out on a survey? It's an older building so needs one.
Fab news! :)

Are you going through a mortgage broker or dealing directly with the bank? Most but not all banks will carry out all affordability checks before booking the valuation so once they have done that, you can be reasonably sure that an offer will follow (provided they are happy with the valuation that is). Hopefully you have gone with a mortgage product that is no/fixed valuation fee as I got properly stung having to pay over £500 for a desktop valuation o_O

I think a full structural survey here was about £800+ when I was getting quotes - I would not book this until you get your mortgage offer. In fact I wouldn't book it until the searches are back (yes, I'm not a hopeful person!). When getting quotes ask them what their timescales are so you have an idea of how long it will take.

I hope everything goes smoothly for you xx
 

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Discussion Starter · #17 ·
Fab news! :)

Are you going through a mortgage broker or dealing directly with the bank? Most but not all banks will carry out all affordability checks before booking the valuation so once they have done that, you can be reasonably sure that an offer will follow (provided they are happy with the valuation that is). Hopefully you have gone with a mortgage product that is no/fixed valuation fee as I got properly stung having to pay over £500 for a desktop valuation o_O

I think a full structural survey here was about £800+ when I was getting quotes - I would not book this until you get your mortgage offer. In fact I wouldn't book it until the searches are back (yes, I'm not a hopeful person!). When getting quotes ask them what their timescales are so you have an idea of how long it will take.

I hope everything goes smoothly for you xx
Thanks that makes sense. I'm going through a broker she's been amazing and has submitted the application their valuation is now booked for 9th March. Most of the surveyors can't get out for a month anyway so hopefully by then I will know if there is a problem with the mortgage.
 

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Thanks that makes sense. I'm going through a broker she's been amazing and has submitted the application their valuation is now booked for 9th March. Most of the surveyors can't get out for a month anyway so hopefully by then I will know if there is a problem with the mortgage.
Good, they really do take a lot of the stress out of the process. My son has a valuation booked on 8th on a grotty flat he is trying to buy... fingers crossed very tightly here!
 

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There are generally 3 levels of survey, basic mortgage Val, homebuyers and full survey. These can generally be paid for as part of the mortgage application to increase level.

We've never had a house older than 20 yes so have always had a homebuyers. Spoke to OH (he's an estate agent, don't tell him I said!). The prices you had quoted are pretty standard according to him for a full structural. Make sure they go in to the loft, surveyors generally won't if there's not access or they deem it not easy.

All sounds exciting :)
 
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