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Santander warns valuations may be slower in lockdown

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  • 06/01/2021
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Santander warns valuations may be slower in lockdown
Santander has reassured brokers that it will still be able to conduct property valuations during the latest national lockdowns within England, Scotland, Wales and Northern Ireland.

 

However, it has warned that these may take longer than usual and this could have a knock-on effect on mortgage offers.

In a message on its broker portal, the lender said: “Further to the national lockdown announcement by the UK government on Monday 4 January, our valuation partners have confirmed that they continue to provide valuation services at this time in England, Northern Ireland, Scotland and Wales.

“However, please be aware that valuations could take longer than usual which could impact the time to mortgage offer.

“Thank you once again for your continued support and patience during this time.”

Helen Harrison, head of intermediary distribution at Santander, said: “Working with our valuation team, we’re pleased to be able to continue to progress mortgage applications during the latest lockdown.

“While valuations may take longer, for example due to problems entering a property where an occupant is self-isolating, we are working hard to ensure as many customers as possible can continue as quickly as possible on their homeownership journey.”

 

Surveyors confident of continuing

With the housing market allowed to continue operating during the latest set of restrictions it is hoped services will be largely unaffected, especially as the vast wave of homebuyers are aiming to take advantage of the stamp duty holiday which ends on 31 March continues.

Countrywide Surveying Services, one of the largest surveyors in the UK, confirmed yesterday that its operations would not be affected.

SDL Surveying today confirmed its surveyors were still able to value and survey homes.

It has also toughened up protocols for in-depth assessments such as homebuyer reports by requiring all residents to be outside the property during the internal assessment.

The firm is also urging its surveyors to contact all forthcoming appointments, to highlight the changes and check whether occupants have had any changes in their circumstances, for example, a renewed need to shield.

Last month lender MT Finance highlighted that it was starting to see surveyors and solicitors withdrawing from meetings or visits as the latest coronavirus wave took hold.

 

 

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