Valuation on remortgage

Baz_2

koexelek wrote: »

There tends to be a trend at the moment where valuers are valuing properties at just over 75% loan to value, meaning that the client can still borrow, but at a more expensive rate.

Thats disgusting quite frankly.

SouthCoast

If the OP could let us know the first part of the post code and the type of property, the Property-Bee users will be able to comment on the reality of the local Estate Agents asking prices.

jayremoh

property-bee?

is that free?

maryjane01

jayremoh wrote: »

i needed 192k.

i beleive the house is worth about that. (on a good day obviously)

last similar one (mid terrace, rather than end tarrace) sold at 197k over 12months ago.

one is for sale (though not sold) at 200k

I hate to break it to you but there are no good days anymore, so your house can't be worth 192K.

If the last house sold was over 12 months ago at £197, prices have dropped over 10% on average since then so I doubt it would be worth any more than 180K now

If one is up for sale at 200K, they would be extremely lucky to get 10% below the asking price making the true value no more than 180K.

Don't waste your time or energy trying to dispute the valuation. Surveyors have to rightfully err on the side of caution at the moment.

From all the info you have provided I would say you were lucky to get a valuation as high as 180k.

I am trying to be realistic, not harsh. I can sympathise as I had to remortgage myself 2 months ago and I was sh1tting myself over the valuation. (we got lucky though due to and extensive loft conversion we had just completed, we paid extra for an internal valuation as you could not see the work completed from outside the house).

Perhaps stay on the SVR until things settle a bit and see who passes rate cuts on. even if you only qualify for higher LTV rates, I think there is going to be a great variety of SVRs on offer over the coming months. In the meantime, keep you credit record spotless.

grogdog

jayremoh wrote: »

sorry thats wrong. ive done before.

i was selling old house at 163k, but person buying had it valued at 140k.

so we sent them similiar properties in the area and they changed their mind.

what you have down before is totally irrelevant to the current situation, if you are basing your valuation on a sold property 12 mths ago then there is no point in commenting any further.:rotfl: :rotfl: :rotfl: :rotfl: :rotfl:

jayremoh

then dont.

had 3 valuations now by estate agents. 2 said 195k, 3rd daid 190k.

now these guys want to sell house, do they not? so they are not unrealistic valuation in my view.

grogdog

your last 3 words are the problem "in your view", sorry to be abrupt but your view means nothing , it has been valued at x amount and the only chance of this being increased is to show 3 SOLD properties with the past few weeks.

RecoveringAlcoholic

Guess that we are still at the Denial stage.

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