Issues with valuer?

[Deleted User]

Usually you can only challenge the valuers opinion of they have made a factual error (valued the wrong property on a desktop survey,  miscalculated the number of bedrooms etc)

What you have at the moment is a homebuyers survey from a few years ago, and a lenders valuation from now.   What makes you so sure that the old one is correct and the new one is wrong?

rik111

Of course you can challenge the valuation but it is very unlikely to succeed, the lender has paid a professional to advise them and his advice is don't, why would they take any notice of your unqualified opinion. Lenders are flat out at moment so expect a long wait for any replies, it hardly likely unmortagable houses are high on their priority list.
If you are really set on buying a money pit find a new lender whom is less risk adverse but be prepared to pay a premium interest rate.
You could always do the sensible thing and run !

Unicorn_cottage

rik111 said:

Of course you can challenge the valuation but it is very unlikely to succeed, the lender has paid a professional to advise them and his advice is don't, why would they take any notice of your unqualified opinion. Lenders are flat out at moment so expect a long wait for any replies, it hardly likely unmortagable houses are high on their priority list.
If you are really set on buying a money pit find a new lender whom is less risk adverse but be prepared to pay a premium interest rate.
You could always do the sensible thing and run !

It was remortgaged last year. Professionals don't always know best as I said the lady went into the property and said something along the lines of I don't value many old properties. There was no heave evident to us. We would be running if we thought it was an issue. This valuer also recommending damp proofing works from a PCA registered company backed by guarantee - stone houses don't need conventional damp proofing such as injection systems. They are a con.

theoretica

Something similar happened to my parents - mortgage valuer said the property needed work they had no intention of doing.  Different mortgage company were perfectly happy.

Thrugelmir

Unicorn_cottage said:

rik111 said:

Of course you can challenge the valuation but it is very unlikely to succeed, the lender has paid a professional to advise them and his advice is don't, why would they take any notice of your unqualified opinion. Lenders are flat out at moment so expect a long wait for any replies, it hardly likely unmortagable houses are high on their priority list.
If you are really set on buying a money pit find a new lender whom is less risk adverse but be prepared to pay a premium interest rate.
You could always do the sensible thing and run !

 Professionals don't always know best as I said the lady went into the property and said something along the lines of I don't value many old properties. 

How old is the property? 

Unicorn_cottage

Thrugelmir said:

Unicorn_cottage said:

rik111 said:

Of course you can challenge the valuation but it is very unlikely to succeed, the lender has paid a professional to advise them and his advice is don't, why would they take any notice of your unqualified opinion. Lenders are flat out at moment so expect a long wait for any replies, it hardly likely unmortagable houses are high on their priority list.
If you are really set on buying a money pit find a new lender whom is less risk adverse but be prepared to pay a premium interest rate.
You could always do the sensible thing and run !

 Professionals don't always know best as I said the lady went into the property and said something along the lines of I don't value many old properties. 

How old is the property? 

Approximately 1880

NameUnavailable

Have you had your own survey carried out that contradicts the valuers remarks?

Unicorn_cottage

NameUnavailable said:

Have you had your own survey carried out that contradicts the valuers remarks?

We want to but we are trying to establish if there is any point. Hence why I am asking for advice.

NameUnavailable

Unicorn_cottage said:

NameUnavailable said:

Have you had your own survey carried out that contradicts the valuers remarks?

We want to but we are trying to establish if there is any point. Hence why I am asking for advice.

So you are saying the mortgage co valuer's opinion is wrong but are basing that on a report you have been provided with from sereral years ago?

I think you need to conduct a fresh building survey, or get a structural engineers report. Then, if they state there's nothing wrong you have grounds to appeal their report (as well as finding out if there really are problems and you're happy to still proceed with the property at all).

Unicorn_cottage

@NameUnavailable - I am not saying the valuer's opinion is wrong. I am saying it is questionable and therefore was looking for advice preferably helpful.
I do miss the days when this forum was helpful and gave meaningful advice.