Valuation help please !

Sophie8916

So, I’ve finally had a mortgage offer from TML (yay!) but need to pay a valuation fee.

What is this based on/how does the valuation work? I bought my 2 bed ground floor  flat (in a block) for £155k in 2015.

halifax accepted a desktop valuation of £186k and in the past 6 months the only sale in my road was a 2 bed flat (maisonette) for £185k.

Do you think I’ll get away with a valuation of £185k for mine?

Sicher

Are you asking what the valuation fee is based on? Or are you asking what the actual valuation of the property (ie the process) is based on?

If a two bed flat on your road sold for £185k and you have a comparable property I don’t see why it would be materially different (save for any material issues etc). Comparable sales on the same road are probably the most indicative proxy in a valuation. 

Sophie8916

Sicher said:

Are you asking what the valuation fee is based on? Or are you asking what the actual valuation of the property (ie the process) is based on?

If a two bed flat on your road sold for £185k and you have a comparable property I don’t see why it would be materially different (save for any material issues etc). Comparable sales on the same road are probably the most indicative proxy in a valuation. 

Thanks! Just PMd you