We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
survey and valuation
hellyboo_2
Posts: 434 Forumite
Hi does anyone know if the survey performed on behalf of your mortgage company gives an accurate valuation of the property?
Our survey's 6 months is nearly up and we haven't moved yet. Will the new survey show if the property has depreciated?
Our survey's 6 months is nearly up and we haven't moved yet. Will the new survey show if the property has depreciated?
0
Comments
-
Yes, definitely.
The surveyors main objective is to protect the position of the lender, so they will always be cautious when putting a value on the propertyI am a Mortgage adviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Would it make a difference that we have a big deposit so the lender is giving us less than 50%.
ie even if the property depreciated but not so their loan would be affected would this come up in the valuation?0 -
The 'loan to value' ratio (LTV) is between the size of the loan you are seeking and the mortgage lender's current valuation of the property.0
-
Sorry yes I realise that!
I didn't phrase my question v well. I guess I am just confirming that a survey would value the house full stop regardless of what we were planning on borrowing.0 -
exactly........................0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.3K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.3K Work, Benefits & Business
- 601K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards