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LTV - would it include a garden room when lender valuing ?
wacky75
Posts: 41 Forumite
We have built a 40m2 garden room.
We are trying to re-mortgage to do more renovation work to our house.
I wondered if a lender (Nationwide in our case), would include the value of the garden room when calculating the value of the property ?, and if so how would they value it if they couldn't see it (assuming their valuation is a drive-by) ?
Thanks
We are trying to re-mortgage to do more renovation work to our house.
I wondered if a lender (Nationwide in our case), would include the value of the garden room when calculating the value of the property ?, and if so how would they value it if they couldn't see it (assuming their valuation is a drive-by) ?
Thanks
0
Comments
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Only a physical inspection is going to see improvements included in the valuation. You need to request one, and possibly pay for it. I can't remember Nationwide stance on this.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.1
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