Remortgage valuation

Dan73 · 18 February 2017 at 11:03AM

Hi we're in the process of remortgaging and our bank NatWest told us in both meetings a value for our property. We've spent weeks now organising things as we were going to borrow some extra to do some work on the house, we got an email yesterday telling us that it had all been accepted pending a valuation of our property as they are now saying it was our estimate and they think it is to high and want confirmation, this will possible have a major effect on the rates we will be offered and are a bit !!!!ed off as the want to charge us £250 to do it! The most annoying bit was that we never gave them an estimated value they told us what it was worth.

Just wondering if anyone has encounterd this before and could offer us some advice please.

Royster82 · 18 February 2017 at 1:07PM

I have had a revaluation on the current mortgage I have with Natwest in the current house I'm in two years ago. Normally Natwest do I post code valuation which is free of charge which is an estimate and long as you are happy with that post code valuation then you can go forward on that, and get a better deal.

They said if I was not happy with the valuation that they came back with I could pay the £250 / £300 whatever it was and they would get the surveyor to come out basically and value the house.

looking into your situation if you're not happy with the valuation that they've put on your house by what looks like the postcode valuation then you have to pay the fee to get the person to come and have a look. Either way you run the risk of them downgrading it still from what might be the post code Val, or if your sure it is the value you say it is,then it might be worth paying to get the better deals.

Keezing · 18 February 2017 at 7:05PM

See: https://forums.moneysavingexpert.com/discussion/5586942

NatWest appear to only be offering chargeable valuations now, despite what it continues to say on their web site.