Natwest Valuation Fee (expensive?)

vienly

I finally got through the 30 minute call with the Natwest mortgage adviser yesterday to apply for the 3 year fixed 4.39% interest only mortgage without a problem.

My head was spinning at the rate at which the adviser was speaking at (they do this for a living so I can understand).

Natwest stated that the basic Valuation fee was £395 for a property at £272k, I've read a few websites indicating that anything above £250 for basic valuation is deemed a 'rip-off'.

Just want to get what people's opinions here are for that kind of fee, too expensive??

For one site it states NatWest/RBS Property value up to.... £400,000 = £320

Why am I being charged an additional £75?


references:

http://www.mortgagesorter.co.uk/survey_valuation_costs.html
http://www.lovemoney.com/news/mortgages/watch-out-for-these-extra-mortgage-costs-3635.aspx

puppy8910club

on a house of 135k i was charged £275 for the valuation. (with natwest)

opinions4u

£395 sounds about right.

Other lenders will charge more (e.g. Halifax £430).

lindos90

Co-op have advised that their basic valuation would cost between £320 and £400 for a house costing £250k.

Brittania have a criteria for valuations, and some houses can be 'electrinically' valued for only £60, but then you have to balance this against the cost of the product, as you may gain here and loose there and it work out the same overall.

benjo

£290 for a 150k house is what I paid.

_Andy_

Whether anyone here thinks it's 'too expensive' isn't relevant - they can charge what they like for it.

koexelek

_Andy_ wrote: »

Whether anyone here thinks it's 'too expensive' isn't relevant - they can charge what they like for it.

Spot on.

At the end of the day, the lenders want to make as much profit as they can out of their borrowers.......and as funds are scare these days, they can very much call their own tune.

Conrad

All these people that claim everything is a rip - off, can we presume thier own salaries / benefits / maternity pay / work enviroment is stripped right back to bare minimum?