Remortgage valuation eyewateringly low!!

westernpromise

Crashy_Time wrote: »

Somebody will be along in a minute to tell us that millions are just getting on with their lives every year, buying over-priced houses with not a care for where interest rates are heading :rotfl:

That's what you thought in 1996, wasn't it, Crashy? - when you sold your overpriced house to some stupid mug for more money than he'd ever sell it for. You walked away laughing from your £50k place in Edinburgh, and you rented. And since then, interest rates have gone to 0.25%, the property's now worth £175k, you've spent £100k on rent and you've got an unpaid rent debt of another £100k or so still hanging over your "wee heed".

You really suckered that mug who bought your house, didn't you, Dances With Sheeple? That mug who's just about paid off the mortgage now while you're still renting?

:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:

Crashy_Time

jimbog wrote: »

From your link:
Prices are still 2.2 per cent higher than they were a year ago.

Are sales transactions higher, I didn`t check?

buggy_boy

Crashy_Time wrote: »

Are sales transactions higher, I didn`t check?

Crashy you are a genius, all this time we all thought you were predicting a price crash but no you sold up years ago because you foresaw the crash of 2018, the transactions crash...

And just to play you at your own game....

https://www.propertywire.com/news/uk/house-prices-uk-forecast-increase-18-next-five-years/


:rotfl::rotfl::rotfl::rotfl:l

Crashy_Time

buggy_boy wrote: »

Crashy you are a genius, all this time we all thought you were predicting a price crash but no you sold up years ago because you foresaw the crash of 2018, the transactions crash...

And just to play you at your own game....

https://www.propertywire.com/news/uk/house-prices-uk-forecast-increase-18-next-five-years/


:rotfl::rotfl::rotfl::rotfl:l

For someone who comes here just to give "advice" you seem very heavily invested in criticising anything that says houses are harder to sell or prices are softening, that says to me you are not really here just to give "advice", so what is your real reason? I am quite open in saying that I believe property is in an over-priced bubble due to too cheap and loose credit for too long, and that down-valuations and rate rises will pop the bubble (eventually :rotfl:)

Crashy_Time

BTW, are sales transactions higher or lower, I still didn`t check?

buggy_boy

Crashy_Time wrote: »

For someone who comes here just to give "advice" you seem very heavily invested in criticising anything that says houses are harder to sell or prices are softening, that says to me you are not really here just to give "advice", so what is your real reason? I am quite open in saying that I believe property is in an over-priced bubble due to too cheap and loose credit for too long, and that down-valuations and rate rises will pop the bubble (eventually :rotfl:)

Your "Advice" is the same clap trap that HPC spouted 10-15yrs ago, those that took that advice can now be found posting on HPC saying what a huge mistake that was....

Sales volumes mean nothing if there are not an increase of properties for sale... Just like with renting people are staying put for longer, probably because of the high cost of moving, also more people are extending rather than moving...

Sales volumes are an indication of the number of property sales that have happened rather than any sort of indication of price, there can be lots of reasons for low sales volumes but the only time it will have a knock on effect ...

http://www.rightmove.co.uk/news/wp-content/uploads/2018/04/Rightmove-House-Price-Index-16th-April-2018-Final.pdf

The number of properties per agent is exactly the same month on month as last year.... The average time to sell is pretty much exactly the same as last year. You are so blinkered with the headline of sales volumes falling as you are so desperate for a crash you ignore all other information which would give you the full picture..

ClaireMC

Crashy_Time wrote: »

BTW, are sales transactions higher or lower, I still didn`t check?

You go on to thread after thread and argue and derail legitimate questions. You need to stop this, you are helping no one and in fact being a hindrance! I genuinely think you need to step away from your computer and go and live a proper life - not being rude here but seriously there are better ways to spend your days!

BTW my second valuation has come in at £120K MORE than the first one so it is worth questioning a surveyor if all the evidence shows it to be wildly differing!!

ClaireMC

ex_surveyor wrote: »

The valuer is required to report their opinion of the current 'market value' - the estimated amount for which a contract for sale of the property would exchange at on the date of valuation, assuming a willing buyer and seller and some other factors. It should therefore fairly reflect current market conditions and any other local value-significant factors.

Valuing an unusual property in an area with no local direct comparables can be difficult for a valuer, particularly if they are not experienced in the local area (perhaps having traveled for some distance from base!) and a good local estate agent will often have a more realistic view of the price which should be obtainable. You also appear to have a broad band consensus (assumed recent) from five agents.

Lenders will very often consider a valuation challenge, but you will need to provide details of the recent sales you refer to, including full address and at least agents' details. As it shouldn't cost you anything to do this, it's worth a shot at least.

Thank you for your helpful comment - my second valuation has come in at £120K MORE than the first one so it is worth questioning a surveyor if all the evidence shows it to be wildly differing!!

ClaireMC

Gwendo40 wrote: »

''Homeowner Thinks Home is Worth a Lot More Than it Actually is Shocker.''

"Homeowner was RIGHT as Home is Worth Exactly What They Thought Shocker"

Not everyone is greedy or stupid and making rude comments is unnecessary! If you come on these forums you should be here to help not ridicule and belittle. Stop and think before you make comments in future - if you can't help just move on!

ClaireMC

eddddy wrote: »

Remortgage valuations always seem to be low.

You can try 'appealing', but they very rarely succeed. That would essentially involve the valuer saying to Santander - Oops! Sorry I made a mistake with my valuation!

Santander are unlikely to continue giving business to valuers who make mistakes - in case their future mistakes go the 'wrong way'.

So the valuer is likely to defend their valuation 'to the death'.


FWIW, when I got a remortgage valuation, I first got some written valuations from local estate agents. I gave copies to the valuer when they visited.

I'm pretty sure that the valuer just looked at the EA valuations, and knocked off 10% as a safety margin.

Thank you for this suggestion. We did give him the seven valuations that we had and details of the recent sales including EA who could verify and the new survey has come in at £120K MORE than the first one so it is worth questioning a survey if you've done your home work!