Is this a rip off ?

colp_2

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 ?

GMS

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.

dimbo61

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)