If I pay for a valuation, am I entitled to see it?

beavis6925

Just had a valuation done, and it has come back very low.
I have asked for a copy, but the lender has refused.

As I have paid for it, I am entitled to see it? Is there any legislation I can quote?

opinions4u

beavis6925 wrote: »

As I have paid for it, I am entitled to see it? Is there any legislation I can quote?

There is no requirement for the lender to provide you with a copy. The valuer is answerable to the lender only.

The valuation has been obtained to allow the lender to assess the property's suitability as security for a loan.

If there is a specific fault with the property, I would expect the lender to make you aware of it though.

eslick

nope unless you pay for the most expensive most wont let you see it. in some cases they may not even have been into the street to do the valuation.

beavis6925

Can I challenge it?

SLAMMER_2

why would you challenge a low valuation if you are purchasing a property (which i presume you are)?

Would you want to pay over the odds for the property?

beavis6925

Sorry. Forgot to say I am trying to remortage, so this has had an adverse affect on the LTV.

SLAMMER_2

you'll need to find comparables, ie, similar properties that have sold in the same area. Not what they are for sale for, what they sold for.

You'll probably have some difficulty as the price its for sale at and the price they sell for is normally very different.

Plus everyone says their house is different to all the others in the area. Unfortunately, even if that is the case (it normally isn't) then you may have trouble convicning the lender.