Our valuations

Valuations are also known by different terms including:

  • Lender's valuation
  • Lender's report
  • Mortgage valuation

These cover ALL types of property

This service type is limited to assessment for the lender.

The reason for this service is purely to assess the property's value as security for the proposed loan. We cannot stress enough that this type of report is NOT intended to identify defects in the property you are looking to purchase - unless they severely affect value and there for this needs bringing to the Lenders attention, as they would not offer the mortgage loan. These reports only advise the lender for their assessment processes regarding risk in respect the loan – they in effect offer no advice to the proposed purchaser, of any issues that you would want to be aware of and that may subsequently need additional funding to rectify.

Important points of which you should be aware:

  • The property may not always be visited.
  • Mortgage lenders may charge the prospective borrower an application fee significantly higher than the valuation cost, or may include such charges in the overall cost of the loan.
  • RICS research shows that one quarter of all homebuyers who relied solely upon a mortgage valuation report prior to the completion of the purchase of their home had to undertake unplanned repairs or building works to their property afterwards. Many of these unexpected issues would have come to light during a more in depth survey which would have left those home owners in a stronger position and at least aware that additional expense were likely to have been required.

Report format:

This valuation report is usually presented by Lenders on their own standard forms, and provide a courtesy copy to the borrower.
 

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