(Scotland) Is the home report value accepted by lenders?

Capri84

FTB here and was just wondering about processes. Reading a lot about homes coming back with a lower value during the mortgage process. 

In Scotland the seller has a home report pack - and that has a valuation within it. Do lenders still carry out a further valuation within the mortgage process? 

davidmcn

No, the point of the Home Report is that buyers and lenders can rely on it. The only exceptions are where the Home Report surveyor isn't one approved by the particular lender, and a few lenders who do their own (or perhaps might in particular circumstances). But for the vast majority of cases you can presume that your lender will be using the HR value.

HannahEL84

I’ve bought two properties in Scotland and the lender has always accepted the home report valuation. A few lenders will insist on their own valuation being done but it’s not common as far as I’m aware. 

scottishblondie

As long as the home report is still valid and was carried out by someone on the lender’s panel, they’ll accept it.