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Remortgage valuations?!
Angus22
Posts: 7 Forumite
Hi can anyone tell me....
If your house is valued for remortgage, does the valuer give an actual figure or a range?
I’ve tried to have it valued before the valuer came but it’s such a unique house, nothing has sold around it for around 3/4yrs for comparison. The valuations I have come in between £211-£233!
Do they pin it down to just one figure?
Thanks
If your house is valued for remortgage, does the valuer give an actual figure or a range?
I’ve tried to have it valued before the valuer came but it’s such a unique house, nothing has sold around it for around 3/4yrs for comparison. The valuations I have come in between £211-£233!
Do they pin it down to just one figure?
Thanks
0
Comments
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They will usually agree or disagree with your estimate and if they disagree they will enter a single figure on the report.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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If you are comfortably within the LTV bracket, then they'll most likely drive to the house, look at the valuation you gave and say "yep, seems reasonable". If they are really penny pinching, they'll take a desktop valuation and use that.
But they give an absolute figure, and not a range.
As an example, the value they gave on my house via a drive by (I'm in the middle of remortgaging myself) was a whole £100k less than the value I gave. However, because the LTV band isn't changing, it makes no difference.Current Debt (excluding mortgage) - £7,020
Reducing £450/ month.0
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