appealing a house valuation?

nick323f

Hi guys,

We have just had a house valuation done, as part of the application for a remortgage.
Unfortunately it came in way lower than we where expecting. which has now cost me £300 plus another mark on my credit history, as well as meaning we are back to square one in our search for a remortgage.

Does anyone have any experience of appealing these valuation?

Some details
We have applied for a remortgage with The Coventry
The house was valued at £115,000
However we believe it is worth £125,000

We bought the hose 7 years ago for £125,000.
Using the web I think the Halifax price tracker makes the value slightly above £125,000 and the Nationwide price tracker makes the house worth £117,000
The house is in a terrace which is unique to the village in build style. There are no other houses here this small. Of the 5 houses in the terrace non have sold in the last six month, one sold about 10months ago next door for £127,500

thanks in advance
Nick

Thrugelmir

Why do you require the property to be valued higher?

nick323f

Thanks for reading

because the mortgage we have applied for is only valid for an 80%LTV and this valuation leaves looking at 83%LTV

Therefore the current motgage application will have to be binned, (costing me £300)
Also if I accept that the house is only worth £115,000 this means that any new mortgage I apply for can only be at an 85% LTV so the options are more limited and the interest rates are not as good