Remortgage valuation HELP!

AshleighC

Renewing my mortgage deal/rate with current lender. I didn't agree with there valuation so asked for them to send out a surveyor the surveyor has come back with a lesser valuation. I do not agree with either of them. Help what do I do?

Shall I just switch to a new lender?

David_White

How realistic are you being with your own idea of what it's worth and what are you basing it on?

kingstreet

New lender + same surveyor = same result.

Get some broker advice before you do anything else.

memberme

Hi,

zoopla will give the prices that houses have sold for in your area recently. Adjust realistically up or down for extras or condition.

You will have to try another lender as valuations do vary but each surveyor will price on recent sales plus what i say above about condition etc. so maybe it won't change that much as Kingstreet said but they dont all use the same one.

lee111s

memberme wrote: »

Hi,

zoopla will give the prices that houses have sold for in your area recently. Adjust realistically up or down for extras or condition.

You will have to try another lender as valuations do vary but each surveyor will price on recent sales plus what i say above about condition etc. so maybe it won't change that much as Kingstreet said but they dont all use the same one.

Ignore Zooplaz. It's as much use as a chocolate teapot.

memberme

ignore zooplas estimate of your house but it is good to see what others have sold for.

i meant adjust yourself mentally not with their toy tools, but you do need to be realistic

AshleighC

Thank you Everybody!!

House price is based on what they are currently selling for as mine is a new build although 2yrs old now. In great condition as no kids/pets. Also newly built 2 car garage completed by us after purchasing house.
We bought house at a discount and this is what the house valuation has come back at. I feel this is unfare. Surely garage would add value at least and would also expect the house to be of selling value not our discount value that we received at work for that company.

Maybe go to a new lender?!

FBaby

Garage won't forcibly had value if you lost much garden space or a room for it.

AshleighC

Large garden still remaining, parking for many cars

minimike2

It sounds very much to me like you have an over-inflated estimation as to the value of your home.

AshleighC

minimike2 wrote: »

It sounds very much to me like you have an over-inflated estimation as to the value of your home.

I don't agree. Surely it's acceptable for your home to be valued at the price you bought it?? 2yrs ago and the same houses are still being built at an increased price.

Garage increasing the value wasn't something I felt would add value but when it's your first time dealing with all this, it's good to ask the question?!