Nationwide value using index is far below market value causing higher LTV bracket

chanz4

One thing also the houses forsale are Brand New, yours is now secondhand

pollyanna24

thriftylass wrote: »

We just remortgaged with Nationwide and their evaluation (without viewing it, not sure how) was even a bit better than we expected. I was worried too that they would service their own interest and artificially lower it.

They told me that I didn't need to be at the property (which is good cos to pay the mortgage, I have to go to work) and they did it on Monday. Have received an e-mail saying they have the valuation report and they will review it and let me know of any issues. This was on Wednesday morning and I haven't heard anything since. Good news maybe?

dunstonh

I bought my house two years ago - a new build

New builds typically lose money the minute you move in. Often 10-15%.

The builder retained their deposit - For a quick sale I negotiated a 15% discount on the sale price.

Doesnt mean you paid the market price. New houses are typically valued higher with the expectation that there will be some knock down or incentive.

Nationwide say using their house price index - My house has gone up 15% in value.

Sounds reasonable considering the usual drop back you would have got.

If the house reflected its true value

There is no true value.

I've escalated the matter to the complaints team, and they've told me my only option is to go to the FOS.

And the FOS will throw it out as its not an area that you can really have a valid complaint about.

ethank

Thanks everyone for your comments.