House valuation-potential equity release

sillysausage1977 · 21 November 2014 at 1:41PM

Hi we are about to enter into our 5th year of my husbands iva and we will have to arrange to get our house valued in preparation of any equity release.

Can I just walk into any estate agents and ask them to value it even though we have no intention of actually moving, or would we have to tell a little white lie and pretend we are?

Thanks

Ros

Giggles_Fairy · 21 November 2014 at 1:57PM

My understanding is that estate agents may charge you if you say you want the valuation for a means other than selling your house (maybe £50 I was told, although this would vary). However if you say you are considering selling they will do for free.

It is up to you whether you want to pay or tell a white lie

debtfree2016 · 21 November 2014 at 2:13PM

Hello Sillysausage1977, I did when entering an IVA but I just went in asked if they could value the property for me as I needed to with Mortgage Lenders. I was not asked to my any admin fee but would have offered if needed. Secondly when you have the valuation done ensure you ask them to value based on a 'Forced Sale' not the current market value. Best of luck

sillysausage1977 · 21 November 2014 at 2:23PM

debtfree2016 wrote: »

Hello Sillysausage1977, I did when entering an IVA but I just went in asked if they could value the property for me as I needed to with Mortgage Lenders. I was not asked to my any admin fee but would have offered if needed. Secondly when you have the valuation done ensure you ask them to value based on a 'Forced Sale' not the current market value. Best of luck

Thanks for that bit of advice

House valuation-potential equity release

Comments

Categories

Get our FREE Weekly email full of deals & guides - and it’s spam-free