Mortgage Valuation

DMC75_2

Had a mortgage valuation via the abbey , he obviously knew that what we paid for property 157k in nov 2005 and that no house has sold since nov 2007 in area . But he implied that the valuation would be close to what we paid in nov 2005 but I argued the fact that prices in our area (cheltenham) have not dropped much 1% I believe as per news and we have had conservatory added , new kitchen and totally redecorated. He insisted he would base on last quarter 2004 figures as guided by mortagage company . Also had amortgage valuation b4 conservatory added in march which came in at 190k He will report back tomm to abbey , anybody got any thoughts are experiences are similar vein ?

Got a feeling that i feeling he will come back with 175k and there goes the 75% LTV

SaveMeTheMoney

sounds pretty similar experience to what I had with Abbey.

happybroker

if it's one that Abbey have paid for then I'm afraid you'll have no chance of arguing it either, they will offer you the chance of paying for another that has to be instructed by them (which they will earn a fee on!) so fingers crossed.