Plea to speed up housing surveys
LACK of surveyor availability is worsening and is a threat to the recovery of the residential property market to Blemain Group, a specialist lender of mortgages, secured loans and bridging products.
Tracey Bailey, head of residential underwriting at Blemain Group, says: “We’re hearing reports of customers losing the property the want to buy due to the extended period to obtain the survey.”
She adds that surveys are being delayed and sometimes cancelled at short notice, causing knockon delays in the underwriting process.
“Checks and documents that are time sensitive often have to be redone as they have expired, leading to yet further delays,” she says.