HSBC Remortgage Valuation

Amye685

I've applied to remortgage with HSBC and my broker has advised they are likely to carry out a valuation by visiting the property. Firstly, how likely is it they will do this / is there certain criteria?
I recently had a leak in the ensuite so as we were planning to renovate it, I've knocked down a wall and completely stripped the room - when I told my broker he was horrified and said if the valuers see that, they can class the property as inhabitable and the mortgage will be refused!

Does anyone have experience of this or know how tight valuation criteria is? It certainly isn't inhabitable and the intention is for it to still be an en-suite, but at the moment it is an empty room with no floor!
Help!
Thanks 

K_S

@amye685 HSBC will usually tell the broker during the application if an AVM (automated valuation) can be done. If one can't (or the value that it throws up isn't correct as per the broker), then a valuation is instructed by HSBC to an independent firm.

It could still turn out to be a drive-by valuation but equally an internal inspection could be required. HSBC instruct a valuation automatically upon a fully-packaged application, so if an internal inspection is required, the valuer should get in touch with you soon.

Very generally speaking, if it looks like a major renovation is going on, the valuer might be concerned but if it's just one room, the house is still occupied and it's clear that nothing structural is going on, it should be ok. Eventually it'll depend on what the valuer sees at the property and their subjective opinion of it.

Amye685

Thank you! We've actually just had a text to book a two hour appointment slot, so looks like we will get a visit!
At the moment, we're working to tidy the room up, so it will be obvious that there's a wall missing but the adjacent space is being used as an office so fingers crossed we should be OK!