Re-mortgage Valuation

Jacka87

Your correct that flats do fall more than houses and new builds are the worst but I applied the worst end of the average forcast to the quick calcs but that ignores the fact that I do not believe the area I live in has been hit that bad.

I do appreciate that there are lower prices than a yr ago but my flat was bought at as a repo at low price so all the similar flats need to fall to that level before mine has actually lowered at all, as they are the same flats in th esame building and are therefor worth the same amount, give or take with interior standard etc.

The point I was actually making was since houses and flats are selling to bot my flat and OP house for a certain value then it is clearly an undervaluation if they value either below the similar properties in that area. Ok I will accept that the banks are trying to get a quick sale but if I remember correctly the original poster stated that he was undervalued by 70k, seems a bit excessive for a quick sale. Would 20k not have been enough for example???

b0rker

The lower the valuation the higher the Loan to Value.

The higher the LTV the higher the Interest Rate.

The higher the IR the more the banks make from the sucker punters.

It is just another case of the banks/lenders ripping off their own customers.

It is a never ending story.