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NatWest, Nationwide, TMW and Precise resume Scotland cases as valuations restart

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  • 25/06/2020
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NatWest, Nationwide, TMW and Precise resume Scotland cases as valuations restart
Lenders are resuming processing of mortgage cases in Scotland and scheduling valuations following the Scottish government’s latest loosening of lockdown.

 

Valuers will be able to resume property inspections in Scotland from 29 June, having already done so this week in Wales.

Nationwide Building Society and its buy-to-let arm The Mortgage Works (TMW) said for those properties on hold, they were hoping to contact the applicant or vendor by 26 June to arrange a booking date.

This will be subject to estate agent access and availability, an initial safety assessment and customer agreement.

“For any physical valuations that were previously booked for week commencing 22 June, these will be rescheduled for week commencing 29 June,” the lender said.

“We’ll continue to accept a transcription of the single survey within the home report for up to six months post inspection, until 31 July 2020 when the normal 90-day rules will apply.”

It also asked brokers not to call as the online case tracking system would be updated and to inform it if the borrower no longer wished to proceed or there had been a material change.

 

NatWest and Precise

NatWest has confirmed its valuers will also be resuming work in Scotland on 29 June.

This applies to residential and buy-to-let applications, for properties where the occupier allows access and where the valuer confirms the property is safe to enter.

For properties in Scotland, NatWest said its process for transcript valuations remains unaffected and the home report must have been completed within the last 90 days to rely on a transcript.

Where a physical valuation cannot be completed the case will be placed on hold.

And in a communication to brokers, Precise Mortgages confirmed that as per the updated Covid-19 guidelines, it can now progress cases within Wales from today and in Scotland from 29 June, using physical valuations.

 

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