mortgage valuation

billy100

We have just been charged £500 by the mortgage providers (Halifax) for the valuation on the property we plan to buy, this seems really high (I thought we would be paying about £200). This is the first time I've bought a house so haven't been through this before and I can't seem to find an average price for mortgage valuations - does this seem on the high side?

CM66

That does sound really high - I have mine done last week with natwest and paid £275

Comyface

I depends what the price of the house is. And the level of survey you went for.
If it was just a mortgage valuation they start at around £300 for a purchase price of ~£100k.
What is the purchase price of your house?

billy100

We've bought the house for £295k

betmunch

That sounds pretty high for a house worth £295K but not unrealistic, especially if you got a homebuyer report.

It should have been explained to you when you signed up.

Also, though, you shouldnt be signing card details for something you are not sure about

Cheers

Comyface

For a mortgage val through Halifax, PP £200k - £300k you should pay £430, PP £300k - £400k then the price goes up to £500.

Double check with your advisor.

billy100

Thanks for your quick answers - I will check this with our advisor. You're right of course, I should have known what the price was before paying but I was thinking "It can't be more than £200", everything is a steep learning curve at the moment.

Trollfever

The more profit that Halifax can screw from its customers the better for me as a taxpayer.

Caveat Emptor.


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