Help To Buy Redemption problems

WiddyKMC2010

Has anyone had experience trying to redeem their HTB loan? I have followed the process as requested by completing the application form with an approved independent RICS survey report showing the house valuation with supporting evidence as to how that valuation was worked out. I received my redemption statement from HTB which then allowed me to then go to my mortgage company for the further borrowing. All was going great until they sent out their valuation surveyor who valued the property £60k less than my independent survey from the authorised panel of RICS surveyors. Bank will not budge on their valuation and will not provide the transparency as to how they got their valuation. I filed a complaint which didn't resolve anything. I have now had to go to the FOS as the process isn't aligned or in harmony and resulted in two separate valuations being produced very differently. 

The challenge I am faced with now is that the HTB application is going to expire and my mortgage company will not budget on theirs either. So I am feeling trapped in my property where I am unable to wholly own my house and unable to have additional properties due to the equity loan attachment. I have paid out a lot of money on legal fees on everything and feel like I am going to loose all the money. I would love to know if anyone else has had any issues redeeming their HTB with a mortgage.

TheSpectator

Give us some context, how much is your valuation and what is the lenders.

What type of property?

The lender is under no obligation to provide you any 'transpareceny' on their valuation and I suspect going to FOS will get you nowhere. Nobody can force them to lend money based in someone else's valuation.

What was the property valued at when you initially bought it?

silvercar

Could you move mortgage elsewhere?

60k seems a lot, unless the property is very expensive, so the mortgage valuer must have had a reason. Mortgage valuation is based on the amount the lender is happy to loan, whereas a RICS valuation may be different. Lenders are concerned with releasing the value in a quick sale scenario, so could be more bothered by things like nearby commercial properties or a lot of similar properties for sale.

is there a cladding issue?

ACG

FOS wont/cant do anything about asurveyors valuation. nor make a lender accept a £60k highervaluation. 
Cant you go back to the original surveyor and ask about the difference?

RelievedSheff

Can you try not a different lender who use a different valuer?

WiddyKMC2010

I have kindly asked has anyone faced this issue, if not then I am not willing to discuss private details. The FOS has taken this on and understand all the detail. I only want feedback from people who have faced this issue.

chanz4

fos will take on, but once everything is in wont do nothing