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Drive by valuations?
MissyS
Posts: 24 Forumite
I rang Natwest today just to get an update on our application.
Didn't expect anything as its only been a week and a half but it showed that a drive by valuation had been done which valued the house at what we've offered.
Not heard of this before. Is it something that's routinely done st the beginning of a mortgage application?
Didn't expect anything as its only been a week and a half but it showed that a drive by valuation had been done which valued the house at what we've offered.
Not heard of this before. Is it something that's routinely done st the beginning of a mortgage application?
Consumer debt £18,897 left / £33,729
LBM December 2019
Hoping to be debt free by May 2022!
LBM December 2019
Hoping to be debt free by May 2022!
0
Comments
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It is commonly done - especially if the lender is paying for the valuation.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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 -
It means that the valuation survey was completed by doing a drive-past instead of actually going in to the house. It's not in addition to the valuation survey.
Often happens, especially with newer houses which are clearly not about to fall down.
Is galling when the mortgage company makes you pay a few hundred pounds for them to do it!0
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