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Old 07-24-2011, 12:24 PM
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Default how long can I expect a lender to take to do a...

...mortgage survey? My husband and I accepted an offer our house which we are selling from a first-time buying couple subject to contract and survey at the end of June. Our buyers had just got a mortgage agreed in principle and we were under the impression that the survey would be carried out in 2-3 weeks. However we were then told their lending bank needed to do more financial checks which were found to be satisfactory and we still await the survey. In practice, how long does this usually take? As we have not bought or sold a property since we moved here 30 years ago we do not have recent experience of how these things work, though are aware they can be somewhat protracted. We have a Solicitor who has all the paperwork needed to do the selling conveyancing but the buyer's Solicitor is understandably awaiting the mortgage survey before starting their conveyancing. We have just viewed a house we are interested in buying which has no further chain and will decide after a 2nd viewing very soon on a suitable offer subject to contract and survey. We are fortunate not to need a mortgage for our purchase. Can anyone advise so we don't worry unnecessarily? Many thanks.(Answers for England only please),
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