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Just wondering ,if for example you know your going to remortgage with a certain lender and you know which surveyor they use to do the valuation, could you just prior to applying for the mortgage get a survey done with the surveyor they use then when the time comes for the mortgage survey say, hey ive already got it done using the guys you use, here you go...to speed things up :
I don't think you can. I think they insist on appointing their own as the surveyor is acting on their behalf not yours. Plus I think it is a nice money making scam for them as you pay the fee and it is about twice as much as you would pay yourself if you go direct to the surveyor. Your surveyor friend could probably advise for definite on this.
No.However, you can have your own private survey done by the same surveyor they use.The lender will still send out a surveyor from that firm for their own vaulation.If the valuation is different, you would have a valid reason to ask why?
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
Jonathan Clarke. http://www.buytoletmk.com
The surveyor acting for the lender has to be instructed by them as they would need to be the ones who could make a valid claim against the surveyors PI cover if required.
If you instruct, their cover is on risk to you and it potentially creates a conflict of interest for the firm actually doing the survey. It has been known in the short term lending sector that an existing survey (done for you or another lender) can sometimes be rewritten for a nominal fee providing the new lender makes the formal instruction, but in the long term lending market you risk that having found and instructed a surveyor yourself that the lender you are trying to save money with gets it into their head to instruct a different panel lender to do the same job, just to keep things clean for them.
David is absolutely right.
Instructing the same valuer can very often cause far more problems.
If you instruct a valuation you are doing so for your own benefit. If the lender instructs a valuation it is being done for the lenders benefit. The basis of the valuation is completely different. The valuer is telling the lender whether the property is good security for a loan, that’s not what the valuer will be reporting to an individual.
Mr Mark Alefounder
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