When we got AIP with KBC it took about 4 days for the valurer to be appointed. I contacted them directly once I knew who they where and had them call round. This was on the 24th of April. KBC has the paperwork a few days later and about 8 days later we had the official offer pack from the Bank to the solicitor.
Valuation was what we needed/expected and it just has lots of tick boxes about how saleable the property is based on current condition and retail income for the area.
It also details recent sales on the price register as a comparison and justification for the valuation. And there is also a note about Covid 19 in the “other factors” section stating it may have an impact on property values.
The estate agent did ask me what I “needed” the valuation to be, in my case the answer didn’t matter as the LTV for the new mortgage was always going to be in my favour even if the house was valued way lower then anything else in the area.
ive not actually managed to move the mortgage yet because there seems to be some paperwork missing from when we bought the house 8 years ago and I’m now trapped between two solicitors arguing about wether or not some declaration should have been on file.
They entered the house and did the full required inspection/valuation, he was working on behalf financial body and as such deemed himself "essential" - I don't think KBC encouraged him one way or another, I had no issue with him coming to the house and can't speak to his contravening his professional body regulations.Did your valuer enter your house or was he able to value the house from a distance or using price registers?
My valuer has said that his Institute has been quite clear that no visits, which require access to the house, can take place during this lockdown period. He said they are hopeful that the next phase (June 8) will allow valuations to resume.
He spoke to KBC who said they will only accept valuations which involve a full inspection of the inside of the house.
If KBC are encouraging valuers to go to occupied houses and enter them, they are in violation of the current regulations. Your valuer is also contravening the regulations of his own professional body, and, by the by, breaking the law, if he visited an occupied house during this period.
I should say that is my understanding of the current situation, open to comment or correction.
Fair enough. I might try that with my valuer, but he seemed pretty adamant that it was, currently, illegal to do valuations, as it wasn't an essential service required to maintain the financial services industry.They entered the house and did the full required inspection/valuation, he was working on behalf financial body and as such deemed himself "essential" - I don't think KBC encouraged him one way or another, I had no issue with him coming to the house and can't speak to his contravening his professional body regulations.
I was glad to get it out of the way and let me move onto the next headache in the process.
The business of business is business. If we don’t make an effort capitalism will fail.....etc etc etc.Fair enough. I might try that with my valuer, but he seemed pretty adamant that it was, currently, illegal to do valuations, as it wasn't an essential service required to maintain the financial services industry.
My experience with KBC is that you have to poke a bit to see progress. They needed some extra info from us a few time in the process and I was only asked for this after I asked how it was progressing.Can anyone tell me if KBC stick to their 10 business days in obtaining AIP? We finally have our full mortgage application gone in since yesterday and they got back to me saying we would have our decision on 10 business days. Just wondering if they might be quicker than that?
Agree, you need to call your mortgage contact in KBC every few days to chase them up.My experience with KBC is that you have to poke a bit to see progress. They needed some extra info from us a few time in the process and I was only asked for this after I asked how it was progressing.
I’d suggest maybe not waiting the full 10 days for an update
When all was sorted and file went to unnderwriter we had formal offer in about 3 days.
hope that helps, mileage may vary.
The business of business is business. If we don’t make an effort capitalism will fail.....etc etc etc.
Best of luck with it, I’ve found the whole process tedious but it’s highlighted an issue with the paperwork for my house that at least I have the energy and time to try and resolve now while I’m not under pressure.
Got the valuation completed yesterday. I guess the guy was following the rules correctly.
Hope you don't mind me asking how your application is going.
Do you have any idea of the timeline from valuation to drawdown?
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