We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

Survey/Valuation Costs

bbr92
bbr92 Posts: 36 Forumite
in House buying, renting & selling
Hi,
We have just spoken to Countrywide regarding a new mortgage and the mortgage advisor has quoted us £335 for the mortgage companies valuation!!! Does this seem high and if so what sort of figure should we expect?

I have had a look and a homebuyers report seems to be around the £250 so can't believe a valuation is as high as this.

Thanks
«1

Comments

  • gemstars
    gemstars Posts: 515 Forumite
    have you spoken to the mortgage company and asked how much their valuation is? If not, this should be your next step.
  • cattie
    cattie Posts: 8,846 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Homebuyer's survey's tend to cost in the £380-£450 mark, depending on lender.

    What you've been quoted is pretty average for a valuation & you've no choice but to pay it as the lender requires the valuation to be carried out on their behalf before deciding whether to grant you the mortgage.
    The bigger the bargain, the better I feel.

    I should mention that there's only one of me, don't confuse me with others of the same name.
  • gemstars
    gemstars Posts: 515 Forumite
    cattie wrote: »
    Homebuyer's survey's tend to cost in the £380-£450 mark, depending on lender.

    What you've been quoted is pretty average for a valuation & you've no choice but to pay it as the lender requires the valuation to be carried out on their behalf before deciding whether to grant you the mortgage.

    That depends on what exactly has been quoted for. The basic valuation is essential but you can upgrade this to a homebuyers or full structural for your own piece of mind
  • chickmug
    chickmug Posts: 3,279 Forumite
    It would help if you tell us the price of the house.
    A retired senior partner, in own agency, with 40 years experience in property sales & new build. In latter part of career specialising in commercial - mostly business sales.
  • keith969
    keith969 Posts: 1,575 Forumite
    Part of the Furniture
    HSBC charged £260 for mine.
    For every complex problem there is an answer that is clear, simple and wrong.
  • Treacle44
    Treacle44 Posts: 195 Forumite
    I'm buying a house for £270K and we've got to pay £655 for a homebuyers survey which I think is really steep! Thats with the Halifax.
  • Grz.26
    Grz.26 Posts: 317 Forumite
    Mine cost £450. RBS. House valued at 150k. Seems pretty norm to me.. unless I got ripped off. grrrr.
  • chickmug
    chickmug Posts: 3,279 Forumite
    edited 13 August 2009 at 8:51AM
    Treacle yours was steep & Grz.26 yours looks OK!
    A retired senior partner, in own agency, with 40 years experience in property sales & new build. In latter part of career specialising in commercial - mostly business sales.
  • bbr92
    bbr92 Posts: 36 Forumite
    Property is at 220k, it seems very expensive when all they do is turn up look around for 10 mins and give a valuation, I suppose they have you were they want you so can charge what they like!!!!!
  • Treacle44
    Treacle44 Posts: 195 Forumite
    chickmug wrote: »
    Treacle yours was steep & Grz.26 yours looks OK!

    Yes it seems so but rate is pretty good so guess we have to just wear it.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 354.8K Banking & Borrowing
  • 254.5K Reduce Debt & Boost Income
  • 455.6K Spending & Discounts
  • 247.6K Work, Benefits & Business
  • 604.5K Mortgages, Homes & Bills
  • 178.6K Life & Family
  • 262.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture