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Nationwide remortgage?
Michelle2014
Posts: 81 Forumite
Has anyone done a Nationwide remortgage recently? If so how long did it take and what type of valuation was involved? My broker seems to think it will be a drive-by valuation.
Feeling very nervous!
Michelle
Feeling very nervous!
Michelle
0
Comments
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I would say an inspection of the property.0
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I don't really understand drive by valuations especially as it's a flat. I would have thought they needed to come in to see the size of the flat to estimate the value. Will wait for a call to organise valuation then!0
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Submitted an application on Monday. It's only 19% LTV.
An indexed valuation was done and the offer was issued on Tuesday.I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Wow that was quick. Our LTV is about 80% so think it will take a bit longer!0
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80% LTV sounds a lot for a drive by - my guess is they will call to book an appointment.
Lenders use 3 methods to value properties on re-mortgage:
Visit - most accurate, costs them most
Drive by - not worried about the property condition as value is well clear or mortgage level, quick external inspection in case of anything major - costs them less
Desktop - computer says yes - cost them very littleI 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 -
Hi,
Had a valuation by the the Nationwide - cannot say more than check the report that it is factually correct!
Regards0
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