Yet another house downvalued by countrywide surveyors

kingstreet

A newbuild two-bed flat in Crawley is being valued at £280k.

I don't know how that fits with second-hand property, but I'd expect a house to fetch more.

TBH we've been doing a lot of Halifax product transfer business off the back of their indexed valuations as they are coming in higher than the tag we believe a surveyor would put on the properties following an inspection. These are two plus year-old newbuild houses and flats, outside your area.

class2ldn

Like I say there's not many reductions on properties as they in such high demand.
Just seems to be a pattern emerging with countrywide and if you look they've caused some real heartache amongst people.
Im aware it could be any surveyor but we had colleys do our first one for Halifax and they were very good in comparison

Malc00

Personally I haven't had any Countrywide down vals for a while. Funnily enough I checked my files and the last 5 I've had were E serv or Connells. The only 2017 up-valuations were CW. I've had plenty of countrywide valuations go through no problems too. I honestly don't believe that they go out intentionally down valuing properties. Nationwide wouldn't be "in" on this either.
As others have said, EA overvalue properties so please don't get hung up over that.


You can appeal and I would contact the mortgage advisor ASAP to let them know.

You need a minimum of 2 (ideally 3) comparable properties of a similar state of repair/style of your home. They need to have sold within 180 days and be in a similar location 1/2 mile - 1mile. You need the full details about the property, address, number of bedrooms, estate agent that sold the property (address and telephone number), date, purchase price.

It can also help if you explain why you feel it was downvalued using those comparables. You need to do this work in order for the appeal to be sent. There is a cut off date of 7 days so would suggest you get started.

goodwithsaving

Countrywide valuation today, mortgage offer fine.

class2ldn, you have attitude. You are misdirecting it towards those trying to offer another perspective.

class2ldn

I have no attitude in general, what I don't like is people avoiding the question I asked and trying to justify what countrywide have done.
Just have to agree to disagree
Seems there are lots of variables to the valuations

class2ldn

Malc00 wrote: »

Personally I haven't had any Countrywide down vals for a while. Funnily enough I checked my files and the last 5 I've had were E serv or Connells. The only 2017 up-valuations were CW. I've had plenty of countrywide valuations go through no problems too. I honestly don't believe that they go out intentionally down valuing properties. Nationwide wouldn't be "in" on this either.
As others have said, EA overvalue properties so please don't get hung up over that.


You can appeal and I would contact the mortgage advisor ASAP to let them know.

You need a minimum of 2 (ideally 3) comparable properties of a similar state of repair/style of your home. They need to have sold within 180 days and be in a similar location 1/2 mile - 1mile. You need the full details about the property, address, number of bedrooms, estate agent that sold the property (address and telephone number), date, purchase price.

It can also help if you explain why you feel it was downvalued using those comparables. You need to do this work in order for the appeal to be sent. There is a cut off date of 7 days so would suggest you get started.

Well like I said the impact on the monthly payments is minimal it was just if it could affect anything in the future which it appears it won't so that's fine.

dlmcr

You just come across as really angry, like the rest of the world owes you endless house price inflation. Many other people in this thread have pointed out that you have an attitude and yet you are not listening to what they are saying because you do want to accept that you are wrong.

If you don't agree with the valuation contact them and ask for their justification.

If you don't like their explanation then appeal the valuation.

If you don't get anywhere with that then try and get another valuer.

Nobody forced you to pay the price you did when you bought your house so you presumably paid whatever it was in the understanding the price may go up or down at any time in the future.

You do not have a right to automatically gain x% every year for owning a house. Values go up and down, that is the nature of a commoditised asset which is what housing has become in the country.

If your LTV now forces you to stay where you are then you will have to do that or find the extra money from elsewhere, be glad you do not have any real problems like negative equity, like some people posting for help on here.

class2ldn

Well as I've said the payments go up by £5.43 a month to be exact and that's from being at 79% for 285k or back to 85% ltv for the 265 valuation.
Quite surprised it hasn't jumped more then that.
I don't think anyone owes me anything but I do know this area well and the rate house prices go up is staggering. It's not just me wanting more money it's a fact which is why I'm surprised at that valuation.

dunstonh

I have no attitude in general, what I don't like is people avoiding the question I asked and trying to justify what countrywide have done.

The question is not being avoided. You just don't like the answers.

class2ldn

No I haven't asked why they've downvalued it, my question was about the impacts of the valuation in the future. Plenty of you are trying to justify their actions, well I'm not asking for that and why they gave that, I'm asking what impact could it have.
Not much apparently so no more needs to be said