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Mortgage Valuation Question

Tra77
Tra77 Posts: 309 Forumite
in Mortgages & endowments
We're in the process of applying for a btl mortgage and we need to pay for their valuation on our current property (which we intend to move from and let out)

The property at present has no boiler/central heating system, only a high output gas fire and baxi wall heater in kitchen/diner. With an emersion heater and timer for hot water.

How much would installing complete new gas central heating system & boiler add to the valuation on my property.

We are in the process of looking into installing the central heating before we let the property out but I'm impatient and wanting to get moving on the valuation fairly quickly.
@//(*_*) 'MoneySavingExpert' - It costs nothing to say thanks! @//(*_*)

Comments

  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Tra77 wrote: »
    We're in the process of applying for a btl mortgage and we need to pay for their valuation on our current property (which we intend to move from and let out)

    The property at present has no boiler/central heating system, only a high output gas fire and baxi wall heater in kitchen/diner. With an emersion heater and timer for hot water.

    How much would installing complete new gas central heating system & boiler add to the valuation on my property.

    We are in the process of looking into installing the central heating before we let the property out but I'm impatient and wanting to get moving on the valuation fairly quickly.

    In terms of the overall property valuation fairly insignificant.
  • Tra77
    Tra77 Posts: 309 Forumite
    Thrugelmir wrote: »
    In terms of the overall property valuation fairly insignificant.

    Really? What figures would you estimate. . . couple of thousand, 5K??
    @//(*_*) 'MoneySavingExpert' - It costs nothing to say thanks! @//(*_*)
  • Dan_1976
    Dan_1976 Posts: 943 Forumite
    Hop over the house buying and renting forum, they may help you more. I would say at at least 5k but I know little of these things!
    "Banking establishments are more dangerous than standing armies." Thomas Jefferson
    "How can I believe in God when just last week I got my tongue caught in the roller of an electric typewriter?" Woody Allen

    Debt Apr 2010 £0
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Tra77 wrote: »
    Really? What figures would you estimate. . . couple of thousand, 5K??

    How much is it going to cost to install? The property is not going to increase in value, much above this if the work is done by a 3rd party. If you do a lot yourself obviously thats a cost saving, that would add value.
  • Dan_1976
    Dan_1976 Posts: 943 Forumite
    If I was looking to buy it I would look at knocking money off to enable me to up date it. If its done then it could hold its value better.
    "Banking establishments are more dangerous than standing armies." Thomas Jefferson
    "How can I believe in God when just last week I got my tongue caught in the roller of an electric typewriter?" Woody Allen

    Debt Apr 2010 £0
  • Tra77
    Tra77 Posts: 309 Forumite
    Thrugelmir wrote: »
    How much is it going to cost to install? The property is not going to increase in value, much above this if the work is done by a 3rd party. If you do a lot yourself obviously thats a cost saving, that would add value.

    3-4K maybe.
    @//(*_*) 'MoneySavingExpert' - It costs nothing to say thanks! @//(*_*)
This discussion has been closed.
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