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Recent Valuations in London
Lunge
Posts: 20 Forumite
Does anyone have any recent experience of surveyors doing London valuation of property?
Last house on my road sold for 600k in Nov 2014 and another for 510k in Jul 2014, but surveyor Connels have come back with a 350k valuation.
Is this happening to anyone else? Are surveyors being more cautious?
Last house on my road sold for 600k in Nov 2014 and another for 510k in Jul 2014, but surveyor Connels have come back with a 350k valuation.
Is this happening to anyone else? Are surveyors being more cautious?
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Its been happening last 6 months in London where prices are falling but rising in the rest of the country. Market peaked last year and with the stamp duty changes, fears of mansion tax in coming election and the capital gains tax on foreign buyers the heat is leaving the London market.
I'm sure with the budget next week the Tories will come up with yet another scheme to inflate the housing bubble before the election yet again:exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
Save our Savers
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Those figures seem mad, I'm just outside London and prices are still riding stupidly, on top of the 20% increase in the last year.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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70% of your expected valuation is not someone being cautious - it is someone who has got something badly wrong (either your end or theirs).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 -
Are the two houses you mention comparable in size etc to your property?0
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thats a material difference. it needs more investigating"enough is a feast"...old Buddist proverb0
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The 510k and 600k properties are 2 bed houses. Mine is a 2 bed flat. The houses are about 10sqm bigger than mine.0
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Thrugelmir wrote: »How long does the lease have to run?
What are the annual service charges?
103 years
Service charge is minimal - £50pcm
The houses are period, my flat is a modern conversion (from an ex local authority house)0 -
so there are a few differences: house vs flat, freehold vs leasehold, garden vs no garden, period vs ex-council. It does still feel like quite a big difference though. Any chance you can speak to the people who did the survey?0
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Rollinghills wrote: »so there are a few differences: house vs flat, freehold vs leasehold, garden vs no garden, period vs ex-council. It does still feel like quite a big difference though. Any chance you can speak to the people who did the survey?
I have a garden. It's a very sympathetic modern flat as its converted from a house.
I have spoken to them, but no luck.0
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