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Hi this is my first post on here so excuse me if this has been covered at all. I tried to find the information before posting but couldn’t see much. 
We are in the process of refinancing a property through a limited company and have kind of ground to a complete halt since the lockdown. Our mortgage was approved we were just waiting on the valuation which we payed for initially only to have a call to say they’ve refunded our payment and no valuations can take place. 
Is the true for all lenders that no valuations are happening? The property is empty it’s just been refurbished we could place the keys in a lockbox for a contactless transaction and the valuer could peruse are their pleasure alone. 
Now I’m not sure how it works with the valuers if we can find one that is willing do they have to be approved by the mortgage company etc? 
Any help would be appreciated 

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It very much depends on the lender and the property. Some lenders are doing computerised valuations on standard property, others have frozen all of the valuations regardless.

You are not able to choose any surveyor unfortunately, they need to be instructed by the mortgage lender and often its tied to one company that they have a commercial arrangement with. I would expect you will find that all survey firms have furloughed their staff anyway.

Im afraid your only options would be to reapply at one of the very few lenders still doing 75% Ltd company business, or wait until they reopen valuations im afraid. If its any consolation everyone is in the same boat and so your vendor wont be able to sell to anyone else!

043_logo_final_03.png.0cdf828351f81e6097208048ac2d018d.pngStuart Phillips

Independent, Whole of Market Mortgage Broker & BTL Specialist

AALTO Mortgages Ltd

Web  www.aaltomortgages.com

Email  sales@aaltomortgages.com

Call  020 7183 1101

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