House Valuations

[Jasper]

How do lenders go about valuations when remortgaging? Do they just sit and do a Zoopla job or multiply the last sale price by the overall percentage change in house prices for the street?

Or do they actually come out and see the property?

[jackynutmeg]

cant remember

[HellsBells]

I'd imagine they do a full proper valuation as normal and come out and see it.

If they are lending money on it they're going to want to know what they're lending against. If its falling to bits no point in taking the average street value.

A remortgage is the same as a normal mortgage.

[Flavonoids]

Originally Posted by Jasper

How do lenders go about valuations when remortgaging? Do they just sit and do a Zoopla job or multiply the last sale price by the overall percentage change in house prices for the street?

Or do they actually come out and see the property?

They send their surveyor (£300 please!) and he sniffs about and tells them, not you.

[Jasper]

Originally Posted by Flavonoids

They send their surveyor (£300 please!) and he sniffs about and tells them, not you.

Pffff! I expect him to sniff my shit for £300!

[jackynutmeg]

i remortaged with the same lender and it was straight forward with no fees at all

[JAZZMANB]

bloke came out for me and that was just a top up improvement loan

[Hauser's-Helmet]

Nobody ever came out when I borrowed more in the past, might depend on LTV like.

[HellsBells]

Originally Posted by Hauser's-Helmet

Nobody ever came out when I borrowed more in the past, might depend on LTV like.

Was it with the same lender? If so then they've already got a valuation.

[MagicRat]

remortgaging at the moment . . . paying £270 for valuation and I'd hope somebody will be coming to look at the place for that! best check with the Mrs