How do Nationwide estimate property value for remortgage?

linnyp

As it says in the title really! Their quick calculator online suggests my property might be worth more than I believe it actually is at the moment. Our mortgage has been with them for the last 6 years or more - would they use their quick calculator or have someone come and look at the house? Thanks for any info.

gratefulforhelp_2

I put my details into this and my house came out 10k less than the average of mouseprice and zoopla, so on that basis, I think their figures are cautious, which is what you'd expect.

yelf

Please note that the Nationwide House Price Calculator is intended to illustrate general movement in prices only. The calculator is based on the Nationwide House Price Index. Results are based on movements in prices in the regions of the UK rather than in specific towns and cities. The data is based on movements in the price of a typical property in the region, and cannot take account of differences in quality of fittings, decoration etc. For an accurate valuation of your property we would always recommend you consult a local estate agent or surveyor.


so yes: they would always instruct a surveyor