Mortgage Valuation

Returntosender

So, we had the valuation survey done on 29th June, and now in the application tracker it gives us a valuation rebuild/reinstatement figure - but I'm not sure what this means and what happens with the valuation, what impact can it have on our mortgage application? I've tried googling but still no wiser!

Thanks

glosoli

Basically if the property was destroyed, it's the insurance cost to get it back to its previous state. It is relevant when you are applying for buildings insurance, and to ensure their level of cover is adequate to rebuild your property.