Aldermore First Time Buyer mortgage - valuation question!

Vanadesse

We've recently put an offer in on a house, which was accepted, so we're now in the process of moving from our DIP with Aldermore to a full application but I'm a little confused about the valuation process. In my paperwork it says - "Standard valuation fee (payable on application and not refundable once the valuation has been carried out). - £325" and it says that if you want a more details HomeBuyer Report, which we do, an additional fee will be payable direct to the surveyor. Does anyone have any experience/knowledge of what that additional cost is? Do we HAVE to do the basic valuation with Aldermore or can we instruct our own surveyors?

Thrugelmir

Aldermore will use their own valuers. After all it's their money you are proposing to borrow. You can instruct your own surveyors though be cheaper to simply pay the additional fee on top if you require a higher level of survey.

celly5460

Aldermore instruct Surveyors to do a standard valuation which basically says they're happy to lend you that amount. For your peace of mind, do a homebuyers report so it flags up any and everything so you don't get any nasty surprises once you have completed. I'm having to get a gas safety certificate and periodic test done on the property I'm buying because I want to know beforehand it's condition.


Aldermore are very good - my valuation to mortgage offer took less than a week! I'm also a first time buyer.