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Lost 25K in 2yrs due to valuers - can I do anything about it?
Comments
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I did wonder if its the banks way to get you onto a higher LTV product!!0
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Munkistuff wrote: »I did wonder if its the banks way to get you onto a higher LTV product!!
Did the lower valuation force you onto a higher product with HSBC?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 -
Yes! The valuer asked me what we owed......0
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Munkistuff wrote: »We bought our house 2yrs ago for £215K (the estate agents had it up for offers over £225K but we knew the owners and they wanted a quick move).
Sounds as if you thought that you were getting a bargain.
Howeverspent about £10K on the house upgrading the single glazed areas to double and put in a new bathroom
This should have been factored into your negotiations as unlikely to have added much in the way of value.0 -
Exactly! And I can cope with losing money on the improvements - as I didn't have to do them. However, what we have done, I would have at least expected to retain the original value.0
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Munkistuff wrote: »Yes! The valuer asked me what we owed......
I think thats where your anger should be aimed.
Although it cant be changed now you have started the product.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 -
As you haven't yet sold the house you haven't yet 'lost' a penny, never mind £25KMortgage Due to Start April 2015 - £165,000
Over payment Goal £3,000pa (£250/month)0 -
I find HSBC very conservative in their valuations. The cynic says its to prevent high LTV deals. Is their price in line with the likes of zoopla by any chance.Tomorrow is the most important thing in life0
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