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HSBC mortgage valuation
MelMcM
Posts: 78 Forumite
We are applying for an 5year Fixed rate 80% LTV remortgage with HSBC (from Santander)
Apparetly we have failed their valuation assessment and need to pay £176 for a valuation.
I wondered how they do the intial valuation. As it appeared to be a 3 minute phone call the HSBC mortgage lady had before she told us no your property has failed we need to arrange a valuation.
Mel
x
Apparetly we have failed their valuation assessment and need to pay £176 for a valuation.
I wondered how they do the intial valuation. As it appeared to be a 3 minute phone call the HSBC mortgage lady had before she told us no your property has failed we need to arrange a valuation.
Mel
x
0
Comments
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They will have done an Automated Valuation (AVM) which will compare data from sales and known valuations.
Only really suitable for standard non-improved properties.
If you go with the proposed valuation a surveyor will come and inspect the propertyI 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 -
Do they not do a free valuation? what rate are you looking at?I am a mortgage adviser.You 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
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Many thanks for the explanation.
The deal is 5yrs 4.99% £399 fee.0
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