Remortgage Issue with House Evaluation

ColinThomson

Hi there,

I'm in the position of remortgaging our property. We sat down with Santander and agreed a deal which was approved however we based the existing cost of the property as £182k, this was arrived at as 2 house exactly the same in our street were sold for this amount.

I should add the house is a new build about 5 years old now.

The bank arranged for a survey to be done on the property, which was carried out while I was away on holiday and done externally with no access to the inside of the house. The surveyor has valued the property at £173k and now the bank have withdrawn the agreed deal.

I would like to know where we stand now with regards to the bank, can I contest this evaluation? Or pay for one myself and have that accepted as the proper evaluation.

thanks

Colin.

kingstreet

You might be able to pay for an internal inspection.

I think you're going to have to ask the lender.