Your Questions About Check My Mortgage

Robert asks…

Can a surevyor (Mortgage), re-survey the shouse when coming to check the original survey?

I’ve just recently bought my frist home with my partner, the mortgage company arranged for the house to be surveyed which is standard practice I assumed, the survey found various problems with the house which resulted in the mortgage company retaining £3000 of the mortgage. We managed to find the extra money at last minute and were told the £3000 retained by the mortgage company would be released if the problems highlighted were fixed within 3 months. The 3 months have passed and we’ve rectified all the problems from the original survey. The surveyor (same one who did the original survey) came back round to check on the work done. He confirmed that everything looked good as per the original survey but then got his damp meter out, after checking a few walls he says there may be a problem now as some of the walls appear to be a little damp. My grievance is that this wasnt picked up on the original survey so, 1) Are the mortgage company allowed to with hold the money for a fault that wasnt picked up on the original survey, and 2) are they even allowed to re-survey the house, and couldnt this game of cat and mouse surely go on for years and years??
Thanks for responding, Yes the loan was agreed as we provided the extra £3000 to cover the survey problems. The damp found was not related to any work done as it was in a part of the house that has remained untouched. Having only 3 months, we purely focussed on the points raised in the original survey. Having completed all the neccesary work on time surely it cant be right to not release tthe money based on a totally unrelated matter. Does it also not pose the question as to why this bit of damp was not picked up on the original survey? If it was it would have been rectified along with the other problems. Cheers again for your help.
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Should the lender be penalized for something that was missed in the first inspection? Do they only get one bite at the apple? If this condition had been noticed/noticeable initially, it probably would have been on the list of things to address as well, correct?

First thanks for getting in touch.

Couldnt agree more, if there is a problem with damp on this particular wall then it does need sorting, now I’m no expert in damp but in the 3 months that have just passed, no builder, decorator, surveyor etc etc has spotted this “damp” on a visual basis, it was the random probing of the damp meter that uncovered the new found damp. But wether it is damp or not for me isnt really the issue. It’s the actings of the building society that are worrying me.

If the building society comes back and offers a further 3 month period in which to have the damp issue resolved, with a view to then having the full £3000 r
….the full £3000 released, this other than this being a further slight annoyance I can undertsand. But this is not what I believe the surveyor was hinting at while re-inspecting the house. He gave the impression that “theres a chance you might not get the whole £3000 back now because of the damp I’ve just found”. This being the final word on the matter as opposed to being another step along the road.This is what I feel would be highly unfair as I feel I’ve danced to there tune the whole time, they asked for they extra £3000 in the first place which I gave them, I’ve worked to and completed the list of problems form the surveyor they assigned and now they may hold back some of the money because of something they missed, surely cant be right can it?

admin answers:

The mortgage company can do pretty much as they like as relates to the surveys.

This may be a new fault, possibly caused by the other repairs.

You do not make clear whether your original loan has been passed to you and the house purchased. If so the only money the mortgagor could retain is the £3000 albeit for a different reason from the original.

Arrange an appointment with them to discuss.

John asks…

What are the procedures for cashing a claims check for putative damages.?

The check is made out to myself, the adjuster, and my mortgage company.

admin answers:

Is it a public adjuster that you used? You would sign it first, then give it to the public adjuster, then forward to the mortgage company.

William asks…

How long does farmers insurance group take to send refund check?

I recently switched my home insurance co and cancelled the policy with farmers ins group, the agent said I’ll be receiving a check for a little over $600.

My mortgage company sent the payment right away to new insurance co from escrow account and I was advised to send refund check as soon as I get it, because they are getting ready for the escrow analysis.

how long will regularly take from farmers insurance group to do a refund?

admin answers:

It’s normally going to be 30 to 45 days. They wait until the other payment check has completely cleared before issuing a refund based on it.

Maria asks…

My identity was stolen, and I can’t check my credit due to having a mortgage?

My identity was stolen before I turned 18 (even though having a mortgage at 18 is illegal). I know that I have to report this to the credit bureau and prove that I am who I am and that I am only 18, but after that, what do I do? Is my credit wiped? And also, I’m trying to figure out how to send everything to the credit bureau. I thought I could fax it, but it’s saying online that I have to call, tell them, then MAIL everything to them and that’s a ridiculous hassle for something I’ve been trying to get fixed for months.
As another note, when I go to check my credit and say I never had a mortgage, it’s wrong and shuts me out. I wasn’t approved to get a bank account, which is how we discovered this issue in the first place.

admin answers:

Are you SURE your identity has been stolen? Or are you just misunderstanding the security questions they ask you when you try to check your credit online? If you were given a multiple choice question asking which bank you have a mortgage at, one of the choices should have been “none of the above”. That’s a typical security question — someone who’s pretending to be you might choose the wrong answer, but YOU know you really DON’T have a mortgage.

It sounds like you *do* need to actually call the credit bureau. How can simply making a phone call be a “ridiculous hassle” when you say you’ve been trying to get this fixed for months already?

Richard asks…

Refused mortgage, why? ?

Hiya

My partner and I are looking to buy a house. We have 60k deposit and want to buy a house worth 185k therefore will need 125k mortgage. We checked our credit score before seeing an independent mortgage broker. My score was 920 and partners was 850.

I work and earn 25k. My partner doesn’t work but claims benefits and the mortgage broker said his 5k benefits can go towards the mortgage.

The mortgage broker said we would get a mortgage for up to 130k easy!

Little did we know, we didn’t!

We were only offered 50k and now our scores have dropped. Mines now 819 and partners is 699!

Why did we get refused? What can we do? Do you still think we will get our mortgage?

Thanks all

admin answers:

Its not just about credit score, if the lender deems you a risk using their criteria you won’t get the mortgage.

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