Home Report - Mortgage Valuation Report or not

alanshave

Wonder if anyone can help because for the life of me I just can't find an answer to this anywhere.

In short I'm selling my apartment in Scotland and I'm therefore required to provide a home report.

Now I have two options:

1. £230 + VAT - all the requirements of a home report without the Mortgage Valuation Report, which isn't a legal requirement.

2. £480 + VAT - everything, including the Mortgage Valuation Report.

Now that seems like a big enough difference to not want to pay the latter, particularly when it might not be required by the potential purchaser.

There seems to be some suggestion that not getting it may slow down a potential purchase, in that a buyer would have to get their own Mortgage Valuation carried out. However there is also no guarantee that their Lender would have my Surveyor on their panel, so the MVR might be useless anyway.

Does anyone have any experience in this? Is the MVR really worth and additional £250 + VAT for me???

Thanks in advance.

stator

Sorry I don't know the Scottish system, would the mortgage valuation report show the buyer how much a mortgage company might value the house at? As a buyer in England when I'm looking at houses the #1 trouble in my mind is "What will the mortgage valuation on this house be?" So from my point of view it would make more more confident about making an offer.

alanshave

There is an indicative value on the standard home report, it's just that the optional Mortgage Valuation Report is likely to be accepted by the buyers lender (assuming that they're on the panel, which they should be).

In the end I think it comes down to whether your buyer is happy to spend £250 to have their own valuation carried out.