House Valuations

immy

Looking to remortgage, and have spoke with current lender about current house value and they have given a figure....but not sure how they arrive at this figure.....is it worthwhile challenging the figure and getting house revalued?
(Lender says its based on last survey price and date only)

Looking on the web, i see several websites which have a swing of about 30k upwards but again not sure on accuracy.


Anyone have past experience of getting house revalued and it coming out better than the current estimate held by lender?

Could i speak to a surveyor beforehand to get an idea if price increase is feasible or will they not discuss till you pay the survey fee?

Farmerbob

The lender probably wont look at it without a survey being conduced by them, you need to decide if the cost of the valuation is cost effective against the product you believe you should be on so take that into account.


What are you basing the higher value on, if you are using Zoopla estimated its not very reliable indicator so I would encourage people not to base their estimates on that. I've seen too many people get burned going with their estimates. They say my house is £16000 more than it would actually go for in the area so, it might go the other way and you many be worse off although less likely.


Its not impossible however

jonnygee2

Could i speak to a surveyor beforehand to get an idea if price increase is feasible

Registered surveyors can only give valuations if they have done the math properly, so you'll need to pay the survey fee. That said, valuations aren't too expensive.

Looking on the web, i see several websites which have a swing of about 30k upwards but again not sure on accuracy.

These websites mean nothing unfortunately. Their valuation tools are handy marketing gimmicks.