Shared Ownwership - End of a 3 year fixed

M.Guy

I own a 50% of a shared ownership property. I am coming to the end of my 3 year fixed rate & have been told that I need to get 3 valuations of the property from 3 seperate estate agents. I have then heard that a mortage valuation is alot different from an estate agent valuation.

I am very confused

brit1234

Yet more dodgy conditions for shared ownership.

Have you read the small print of your docs to check this.

getmore4less

M.Guy wrote: »

I own a 50% of a shared ownership property. I am coming to the end of my 3 year fixed rate & have been told that I need to get 3 valuations of the property from 3 seperate estate agents. I have then heard that a mortage valuation is alot different from an estate agent valuation.

I am very confused

Why?

What did you agree to?

What does the valuation effect?

Read your T&C

bodgerx

brit1234 wrote: »

Yet more dodgy conditions for shared ownership.

Have you read the small print of your docs to check this.

Yawn, yet more whinging about these schemes.

We had a shared-ownership property and when we re-mortgaged there was no such condition, we just went with the standard valuation.

When we sold, it was valued by one independent valuer of our choice, not multiples. Every scheme differs I suppose, but I'd challenge this.

M.Guy

Thanks. My mortage adviser has told me I need the 3 valuations before he can look for a new rate of mortage for me.

getmore4less

Are you looking to take on a bigger share or a bigger mortgage?

Looks like it is your mortgage advisor being a bit carefull about assessing LTV


What follow on rate has your current deal moved onto there may be no need to do anything if it is a good rate.