Nationwide Valuation

Jay2804

I have my re mortgage valauation on Friday 🤦!♂️ What should i expect? Is it just a look around/measure up kind of thing or more in depth look ?

chunkytfg

My understanding is it'll be just a look round for anything glaringly obvious that'll affect the value.

MortgageMamma

Has your property increased in value significantly or had any major changes? Nationwide usually use automated valuations for most remortgages

katie4

when we had ours I was surpised to find our that their valuations differ from estate agent valuations who valued ours at £85k however the mortgage company said valued at £68k which is just £2k more than what we had paid for it!

Luke86

As someone else mentioned, I just had a remortgage after 2-year fixed term ended.

Bought it with 10% deposit 2 years ago, and they calculated it to 72% LTV. I'd imagine they just used their own calculator: https://www.nationwide.co.uk/about/house-price-index/house-price-calculator

I think you can appeal if you don't agree with it. Mine was automated, over the phone and within 15 minutes I had my new deal.

Jay2804

Yeah the property has change a lot since i bought it and increased in value a bit so maybe thats why they are sending someone out 🧐

Luke86

See what they come up with. Check rightmove listings and sold prices, use that calculator and determine if it's fair. If it's not and you're close to the next rate bracket, I'd dispute it. I just mentioned in another post my parents did this on a rental property and jumped 2 rates, saving around £300 per month.

Jay2804

Valuation done today, was a bit weird, valuation guy didnt tell me anything was a bit rude, just walked around writting stuff and testing for damp :eek:

Dandytf

Luke86 wrote: »

As someone else mentioned, I just had a remortgage after 2-year fixed term ended.

Bought it with 10% deposit 2 years ago, and they calculated it to 72% LTV. I'd imagine they just used their own calculator: https://www.nationwide.co.uk/about/house-price-index/house-price-calculator

I think you can appeal if you don't agree with it. Mine was automated, over the phone and within 15 minutes I had my new deal.

Natwide don't use their advertised online HPI calculator.

E.g. Automated Valuation Model (AVM) figure, to determine your LTV and eligible products. Please be aware the system takes into consideration overpayment reserves within the LTV calculation.
The valuation Natwide don't offer online.
Not to worry suppose most if not all have their own internal systems etc.

Thrugelmir

Jay2804 wrote: »

Valuation done today, was a bit weird, valuation guy didnt tell me anything was a bit rude, just walked around writting stuff and testing for damp :eek:

Works for the lender. Hence just doing their job.