Wrongly valued?

Boogiecat

Hi I wonder if anyone can help. I'm getting a let to buy/buy to let mortgage on my flat to release the equity as a deposit on a house. Tried to sell earlier in the year at £90,000, reduced to £84,950 then got viewings at which point I took it off the market. Based on a value of £85,000 , the flat is large, south and west facing, one bedroom, 81 sq m / 879 sq ft.in Birkenhead, Wirral. It's in a beautiful conservation area, overlooking the park, and Grade II listed. Surveyor came out and has valued it at £73,000 :eek: My mortgage advisor says they base it on sold prices in the area in the last 6 months. Only one other flat has sold here in that time, for £74,000, and it's half the size, and has a view of the carpark at the back! Is it worth appealing? I am struggling to understand how they can value mine lower when it's so much bigger, and in such great condition. Help please!!

dimbo61

You are not selling the flat you are starting a business as a BTL landlord.
Values can be very strict in case the lender needs to repossess the property.
Not many sales in your area of one bed flats and having a view over the park will not increase the rent.