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Is it true that all lenders use essentially 2 valuation companies?
yessuz
Posts: 259 Forumite
Question as in topic:
My broker told me that all lenders use 1 of 2 valuation agencies accross the UK, and if one lender got property downvalued, then you need to look for the lender who would use different agency?
On top, how common is to win a downvaluation appeal with lender, as the valuation is too far from market reality?
My broker told me that all lenders use 1 of 2 valuation agencies accross the UK, and if one lender got property downvalued, then you need to look for the lender who would use different agency?
On top, how common is to win a downvaluation appeal with lender, as the valuation is too far from market reality?
I own an EV. AMA
0
Comments
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Legal and general surveying services
Countrywide surveys
Connells surveyors
Valunation
Enact
I think that's the biggest ones who do most of them. But within that they will panel out to local firms if too busy or if the property is specialist or something.
These smaller firms will do the survey and send it back to the one who panelled it out to them who then send it back to the lender0 -
Fair enough. Then question is following:Deleted_User said:Legal and general surveying services
Countrywide surveys
Connells surveyors
Valunation
Enact
I think that's the biggest ones who do most of them. But within that they will panel out to local firms if too busy or if the property is specialist or something.
These smaller firms will do the survey and send it back to the one who panelled it out to them who then send it back to the lender
1) which one is used by NatWest?
2) my my broker stated that only 2?I own an EV. AMA0 -
Nat west use legal and general.As above list from JMA there is also E-Surv who are very large.Enact are conveyancers, not surveyors as far as I know.I am a Mortgage AdviserYou 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.0
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It can vary in areas but L&G do the vast majority in our area.
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
I have been mixing up enact and esurv for about 6 years now. I have just resigned myself to making this mistake until my dying dayLRmortgage said:Nat west use legal and general.As above list from JMA there is also E-Surv who are very large.Enact are conveyancers, not surveyors as far as I know.0 -
Lol does the “surv” in E-surv not give you a little help?Deleted_User said:
I have been mixing up enact and esurv for about 6 years now. I have just resigned myself to making this mistake until my dying dayLRmortgage said:Nat west use legal and general.As above list from JMA there is also E-Surv who are very large.Enact are conveyancers, not surveyors as far as I know.To be honest, everything is so frazzled at the moment it wouldn’t surprise me if esurv started doing Conveyancing and enact started doing surveys soon.I am a Mortgage AdviserYou 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.0
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