Can much be done about the banks automated valuation amount?

blenz101

Herzlos wrote: »

Would I be better off getting a local estate agent to give me a valuation I can use?

No lender will use an estate agents valuation, however, given they are generally free you could ask a local agent around to give you an idea - obviously they will be expecting you to sell with them so you will need to play along a little.

Despite your internal improvements if other similar properties in your location are are have been achieving low sale value (which is what the desktop valuation is looking at) then you find your internal improvements may not have added the value you anticipated.

If the local estate agent suggests a valuation which you are satisfied with you could confidently consider asking (and paying) the bank to carry out a full survey with a chartered surveyor.

If the estate agent gives you a low valuation and suggests the ceiling price for your area is similar to the banks desktop study then you would know that paying for a full survey would be unlikely to achieve the result you desire and the LTV rate you seek is not going to be available to you.

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If a higher valuation would result in savings of £100/month then paying £135 for a valuation sounds like a very good deal....


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