Home Valuation - Scotland

simk6

Hi Everyone,


Just a quick one - How does the valuation work with for lenders in scotland? I'm aware properties in england are subject to a valuation but all properties in scotland are subject to a mortgage valuation before it can be sold and this is included in the home report.

Does the lender just requests the home report from my solicitor/broker and do you think this shaves time off the your offer being issued being able to provide the home report upfront?


Thanks

davidmcn

Generally, yes, the lender will just use the HR valuation. The only exceptions to that would be where the valuer isn't on the lender's panel (though generally the big lenders and the big surveyors do all talk to each other), and I think a few lenders might prefer to get their own valuation anyway.

If the HR is fairly old then it may need updated (which is generally arranged by the seller at their expense).

simk6

davidmcn said:

Generally, yes, the lender will just use the HR valuation. The only exceptions to that would be where the valuer isn't on the lender's panel (though generally the big lenders and the big surveyors do all talk to each other), and I think a few lenders might prefer to get their own valuation anyway.

If the HR is fairly old then it may need updated (which is generally arranged by the seller at their expense).

Thanks David, yeah the home report had expired so it was refreshed on the morning of the 2/3 through allied surveyors the same day our application went in with aldermore. Thankfully the home report came back this week with no change!


Fingers crossed that this is the case and they are satisfied with the HR that is days old! 😀

Jatinder34

simk6 said:

Hi Everyone,


Just a quick one - How does the valuation work with for lenders in scotland? I'm aware properties in england are subject to a valuation but all properties in scotland are subject to a mortgage valuation before it can be sold and this is included in the home report.

Does the lender just requests the home report from my solicitor/broker and do you think this shaves time off the your offer being issued being able to provide the home report upfront?


Thanks

If you're looking to save your time and have a swift home valuation then I would recommend to have a professional chartered surveyor to do that. I would suggest you Leasehold Valuations experienced chartered surveyors as i have gone through the case studies in which they have save much money of the customers during valuation of the property and and cost valuation.