Post Office Mortgage Valuations

v4l3ntin3

Hi

Has anyone had a mortgage or remortgage valuation from the Post Office?

We are thinking of remortaging but not sure if our LTV will be same as theirs.
Thanks

GMS

Difference in opinions on valuation happen every day. Its not a Post Office specific thing.

Search for similar sold properties in your area to give an idea of what the surveyor will value it at. If you are being too optimistic with your valuation you may be disappointed, and potentially out of pocket.

v4l3ntin3

Thank you for reply - the reason I ask specifically about PO is I am pretty sure this is who we will apply to.

Was wondering about anyone with first hand actual application experience - ie how their valuation came up against the PO ( I have the current val from nationwide so know roughly what they think it is worth - 5 bedroom detached 3 storey town house in north east england).

Also has anyone applied for say 80% LTV but only been offered 85% LTV by PO - do they do that autimatically if the LTV offered is less than you apply for.

Thanks

GMS

You seem to have your LTV the wrong way round. The higher the LTV, the lower the deposit/equity. If the property were to be less than thought they may offer a lower LTV product meaning you would need to fund the difference.

I am not meaning to sound rude but somebody elses experience would be irrelevant to your application. What one person thinks there house is worth may not be the same as anther person, in the same way as different valuers may have a different opinion.

Are you certain Post Office is the best for you? Have you considered other lenders, maybe with a slightly higher rate but free valuation and cashback towards legals for instance? Often the cheapest rate is not the best overall deal.

With a free valuation lender you are not going to be out of pocket if the property were to value at less than expected.