Deed of Postponement want valuation - A&L won't provide

Fournomore

Hi - we are currently re-mortgaging with A&L (new lender) and our mortgage has been offered but we have hit a wall as Barclays (secured loan for loft conversion) want to know what A&L valued the property at and A&L have stated categorically that they will NOT provide this figure. We are not in negative equity. No arrears. Good credit etc. etc but are completely stuck. Enact and L&C Brokers suggested we arrange out own survey to move the situation forward! Any suggestions? Many thanks - in advance.

c0c0nuts

Hi there!
We have just remortgaged to Natwest and carried out a deed of postponement for our secured loan with Picture.
We had to pay Picture £250 for the legal work involved in keeping the charge in second place on the deeds behind the mortgage and this included the valuation of the property to allow the postponement to go through.
The solicitor (appointed by Natwest for the remortgage) confirmed that this was standard practice.
So by the sounds of it if Barclays don't do something similar then you'll have to appoint your own surveyor to satisfy their demand.
Hope this helps!