House Valuations

days

Hello Martin ,




I would like you to look into the situation where property valuers are visiting people houses at the request of mortage lenders to value properties and are not providing the services that they are being paid for. People who are seeking a mortage have to pay as much as £275 for a valuation and at the end of the day the valuation documents they provide does not have a value. This has happen to me twice and on both occasions all I got was excuses why a value was not given. What is really upsetting is that the valuers knew before hand the type of porperty they were coming to value, yet they came and riped off poor people like myself.



I am sure that thousands of home owners have experience the same thing I have and I think this practice needs investigating and exposing.



I would like your advice on this matter.

yelf

some valuers just look at the house from outside (drive by). But if they give it the nod you get the mortgage. I used to be able to charge over £250 per hour when I worked - do you know what the valuers rate of charge is??

days

hi
yes 275.00 but put a zero value

yelf

so they said your property is worth nothing?

days

that's what there saying

days

is there something i can do about this ?

_Andy_

Sorry but I don't believe a valuer has actually said it's worth £0

Garetha

slightly off topic - but you can do your own check on house value at Zoopla
http://www.zoopla.co.uk/home-values/
Just put in the postcode or address - the valuation is based on price trends in that postcode.

I believe estate agents :mad: and valuers use this site - and then charge us £100s

jhe

its a rip off. we were given an a.i.p had valuation done, all was good. applied for mortgage and they declined it even though they had all the details from when the aip was agreed. total costs almost £400. applied to another bank, mortgage granted no problem.

Milliewilly

A Zero valuation means the bank won't lend on the property because it doesn't meet their lending criteria.

My sister had this arguement with the NatWest in April in that it couldn't possibly be 'Zero' as the land itself had an intrinsic value as a building plot.

She had to get a specialist surveyor out to address the points raised in the NatWest survey and basically the NatWest Surveyor had to eat his hat and she got the loan.

days

I have the document and I was just as suprise as you, not to mention very angry because even an old disposed can has a value.