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Is this a rip off ?
colp_2
Posts: 2 Newbie
ok, i have a mortgage with yorks bank was on no deal with them...so i asked to have a new deal to fix for 2 yrs and borrow an extra £10,000
All OK but they are charging me a valuation fee of £200 !!
i only owe £36,000 will be £46,000 house prob worth £150,000
so the girl checks on line valuation a few clicks and says yep OK no need to send anyone out alls well you can have the mortgage (fee £399) .....now i feel ripped off paying £200 for a few clicks on a comp.
What do you think ?
All OK but they are charging me a valuation fee of £200 !!
i only owe £36,000 will be £46,000 house prob worth £150,000
so the girl checks on line valuation a few clicks and says yep OK no need to send anyone out alls well you can have the mortgage (fee £399) .....now i feel ripped off paying £200 for a few clicks on a comp.
What do you think ?
0
Comments
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You asked your current lender for a further advance. They agreed subject to a valuation for which a fee applied. How they choose to reach the valuation figure is their business. However it is expensive for a desktop valuation which costs £21 plus VAT.
Unfortunately when you approach a lender you are stuck with their rules.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Ring them up and point out that a deck top valuation is £21 plus VAT and ask for a reduction as a loyal existing customer.
Might be worth a letter to the chief exec ( 1st class stamp)0
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