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    • FrugalShaz
    • By FrugalShaz 9th Nov 18, 4:19 PM
    • 14Posts
    • 9Thanks
    Valuation on House....
    • #1
    • 9th Nov 18, 4:19 PM
    Valuation on House.... 9th Nov 18 at 4:19 PM
    We have decided to remortgage with another lender to consolidate some debts. We have been approved for the mortgage subject to wage slips (which are absolutely fine) and valuation of the house. We were asked what asked what the value of our property was.... based on Zoopla our house is worth 202k, we said realistically it was 185,000 (we paid 170,000 11 years ago). When we remortgaged with our current provider 3 years ago we were told according to them our house was worth 180,000. Also, Nationwide house price tool says 192,000. We are not planning on moving, this is our forever home. We have to wait for an independent valuation to be done. I'm just really worried that the valuation will come back very low.....I going to feel rather stressed for the next few weeks, the valuation is being done next Friday.

    Any advice or tips to get me through this stressful time
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    • Thrugelmir
    • By Thrugelmir 9th Nov 18, 4:51 PM
    • 62,450 Posts
    • 55,553 Thanks
    • #2
    • 9th Nov 18, 4:51 PM
    • #2
    • 9th Nov 18, 4:51 PM
    Why would the valuation come back low. You can look on Rightmove to gauge selling prices in your locality. To see if you are in the right ball park. Surveyor is going to value. Not pick holes in your decor or kitchen.
    "You get recessions, you have stock market declines. If you don't understand that's going to happen, then you're not ready, you won't do well in the markets." - Peter Lynch
    • Kim.wigley
    • By Kim.wigley 10th Nov 18, 8:42 AM
    • 33 Posts
    • 6 Thanks
    • #3
    • 10th Nov 18, 8:42 AM
    • #3
    • 10th Nov 18, 8:42 AM
    We tried to sell our house - marketed at 170, 2 x offers accepted at 160 (both fell through for different reasons unrelated to mortgage). One was a cash buyer so less relevant, the other had their mortgage approved at 160. We’ve now remortgaged and they’ve valued at 145. It doesn’t impact what we need so I haven’t tried to appeal it but I was really surprised.
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