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mortgage valuations?
smegy9
Posts: 45 Forumite
how do these work?
I have had an offer for a property in edinburgh accepted for 122 grand.
How will I know what the mortgage company are going to value it at.
The mortgage company is alliance and leicster btw
I have had an offer for a property in edinburgh accepted for 122 grand.
How will I know what the mortgage company are going to value it at.
The mortgage company is alliance and leicster btw
0
Comments
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Have you paid a valuation fee or are you arranging your own valuation?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
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i have had a survey done on the property yes.
does this get passed on?0 -
alot of my mates have said that the mortgage company will use a figure just below my purchase price say 3 grand below , is this the case?0
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Your surveyor will need to forward on to A&L - make sure they do.
A&L will use whatever figure is on the valuationI 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 -
anyone know how they calculate the value?
do they take into account the actuall market value?0 -
They base it on what the property is actually worth in their opinion.
They will also look at other similar type properties in the immediate area to see what they have sold for, not what they are on the market for - the two figures can be very different
HTHI 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
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