Natwest valuation fee

MrCH

Evening everyone,


I'm going through a broker for my mortgage.
Have an AIP from Natwest who have charged a £248 valuation fee.


On their website it says that the product fee is £0 and that the valuation fee is NA.


Has anybody else came across this?
Do I need to pay a valuation fee?


First time buyer

ACG

Forget the website, what does it say on the Mortgage illustration?
As far as I am aware it would be due - https://personal.natwest.com/content/dam/natwest_com/mortgages/downloads/NWB2594_1014_90513889.pdf

MrCH

Thank you for the reply ACG.


Mortgage illustration says


Costs to be paid on a one-off basis:
• Valuation Admin Fee: £75.00 payable up front. This is payable with the valuation fee.
• Valuation Fee: £173.00 payable up front.


Looking on the link you gave me, it can be upgraded to a homebuyers report for an extra £200.


Could I upgrade it and use it as my survey?
Instead of paying the £248 valuation fee then instructing a separate survey myself which looks to be around £420 or so.


I would save around £200 doing so.


Thank you!

amnblog

£173 + £75 sounds like a £248 'valuation fee' to me.

Have you asked your Broker?

MrCH

It is a 'valuation fee'

I've now seen the link posted and I do have to pay it now my query is can it be upgraded to a Homebuyers survey so that I don't have to pay another surveyor and ultimately cost me more money.

Can that be done?

ACG

Yes, but double check as a homebuyers report and building survey are different things. So you may not be comparing like for like.

But if you want to upgrade, call your broker. Natwest will give you a number to ring, I have it written down somewhere but im not in my office at the minute. If you have a broker, you should just run everything by them anyway.

MrCH

Thank you ACG.
Very helpful.

I wrote on here last night as it was quite late and didn't want to bother my broker at that time