New mortgage valuation fee refund??

Surfbelly1

I recently applied for a re-mortgage with alliance and leicester, seemed good value, so had to do it that day to get the rate. in order to secure it i had to pay a £370 valuation fee. Got it valued, then had a letter saying valuation was less than expected and i would have to go on another rate so from the 3.99% offer to go on the only alternative of 5.79% obviously turned them down and cancelled. But the valuation fee would not be refunded. My own fault i suppose but does anyone know if there is a way to get a refund, even partial please??

thanks
neil

RufusA

Surfbelly1 wrote: »

I recently applied for a re-mortgage with alliance and leicester, ... had to pay a £370 valuation fee. ...does anyone know if there is a way to get a refund, even partial please??

Extremely unlikely sadly!

If you have strong grounds to suspect the valuation was incorrect, you could write to them and ask. However unless the surveyor has been professionally negligent (rather than just giving an opinion that differs from the convention) they would be under no obligation to refund any it.

Rufus.

_Andy_

There is no case for a refund. You paid for a vaulation, you got a valuation albeit not the figure you wanted.

louie31

Surfbelly1 wrote: »

I recently applied for a re-mortgage with alliance and leicester, seemed good value, so had to do it that day to get the rate. in order to secure it i had to pay a £370 valuation fee. Got it valued, then had a letter saying valuation was less than expected and i would have to go on another rate so from the 3.99% offer to go on the only alternative of 5.79% obviously turned them down and cancelled. But the valuation fee would not be refunded. My own fault i suppose but does anyone know if there is a way to get a refund, even partial please??

thanks
neil

Same thing happen to us, we paid £280 valuation fee, the were declined, still very angry about this, but i have learnt never to pay up like that again