Mortgage Valuation Rejection

Crashy_Time

numbercruncher8 said:

Have you read any of the reports? 

If no you could commission one yourself and compare what it says to the one you got when you purchased the property. Like others say it is most likely the commercial premises downstairs, and banks don't have any obligation to you to keep the parameters the same.

Also you don't have to go to auction for a cash buyer, if it's priced low enough one will come. If the area is desirable enough then this should not be a problem, as the lenders valuation does not reflect the rental ability and at a certain price the yields will be worth it.

Good advice.

Thrugelmir

whiteho2 said:

numbercruncher8 said:

Have you read any of the reports? 

If no you could commission one yourself and compare what it says to the one you got when you purchased the property. Like others say it is most likely the commercial premises downstairs, and banks don't have any obligation to you to keep the parameters the same.

Also you don't have to go to auction for a cash buyer, if it's priced low enough one will come. If the area is desirable enough then this should not be a problem, as the lenders valuation does not reflect the rental ability and at a certain price the yields will be worth it.

I would just love to actually know from RICS what specific criteria their appointed surveyors are now working toward. 

The surveyor works on the instructions of their client, i.e. the mortgage lender.