I worked a mortgage application, a remortgage of a house, he was remortgaging it to raise funds to purchase a new build, that purchase transaction happening elsewhere.
Anyway, pretty standard non interesting application, leasehold house although they are not too unusual.
Valuer went off, few weeks later, valuation report is back, I'm looking through the report, freehold house, ok standard, check my notes, valuation only ok, cool offer the mortgage.
Skip forward about 4 months or whatever, solicitors are looking to complete, but wondering why our offer say freehold.
Turns out... We did put the valuation instruction over to the valuer correctly, that it was leasehold, but the bell end valuer cocked it up and just assumed freehold.
Annoyingly because our systems are ****, it overwrites the tenure on our system, I got the val back, didn't think anything of it being a freehold house.
Well..... This is at the 11th hour, we run a land registry search on the house, turns out the lease only has like 50 years on it or something, send that information over to the valuer who confirms due to the short lease the property isn't worth anything.
We couldn't proceed, and the guy had paid the developer on the new build he was buying about a £30k non refundable deposit......