Hi All

... just wanted to se if there was an 'average' time taken between a valuation taking place and the mortgage offer being received ? I realise all lenders are different, but wasn't sure if anybody had some sort of idea.

ALso, would things such as visible cracks in external walls be identified as part of a basic valuation ?

Average time is difficult to judge as the valuation may have been instructed at the same time as references were applied for and an offer cannot be released until everything is in. Best put in a call to the lender and ask how things are going, what is outstanding and if there is anything you can do to expedite. You could also ask them how long it takes them to physically produce an offer once all enquiries have been dealt with as some lenders take an age. With regard to the visible cracks, a basic valuation is just that - a valuation - and is designed to inform the lender whether or not the property is suitable security. The surveyor is not being paid to investigate potential problems and if he has any doubts will recommend to the lender that you have further investigations carried out at your own expense before an offer is issued. If the cracks are clearly superficial they will probably be overlooked, but if there is any room for doubt a structural engineer's report may be requested.

Yes I would agree that it depends on the solicitors, the recommendations themselves etc. Mine was straightforward at a couple of weeks if I recall, may have been less than that (The whole thing took 10 weeks for me from making an offer to moving in). I would guess that if there were any major issues that the building society want sorting before the offer is made then they might insist the work is done beforehand, in my case I had just some wet rot in the cellar, and they wanted a firewall put in the loft between mine and next door. The offer was still made even with these recommendations.

Think alot of it depends on your mortgage people/ Solicitors. I've just bought a house, got my mortgage from Halifax and the valuation. The time from them doing the valuation, to me recieving the offer was only a week. The whole process from getting the offer accepted to signing the contracts has only taken 8 weeks.