Property Valuations

Once we have received the application form and a cheque for the valuation fee we will instruct a professional valuer to contact your client and arrange a time to visit the property.

They will inspect the exterior and interior of the property and note any defects which need attention. The valuer will also obtain the "Sold at" price (as recorded at the Land registry) for three comparable properties which have recently been sold in the area and have similar specifications

These comparable values will then be used as a basis for valuing your customer's property and the valuer will take into account the relative conditions and locations of the properties. For example it may be on a quieter road or a better location.

Once the valuation report comes back to us, if the valuation is lower than the estimate you have put in the KFI, and this results in the amount we are able to lend being less than the amount your client wishes to borrow, we will send you an email notifying you of this and we will request you generate an amended KFI and agree this with your client. This email will contain the comparable information used to help value your clients property.

The professional valuation will be displayed in the Offer letter and also used in the amended KFI.

Any observations which need attention will be shown in the Offer letter in section 17 under special conditions.

Go to the topic on how on 'How to generate an amended KFI' to find out more.

The valuation review process

If you or your client believes that our valuation does not reflect the value the property would be sold for, you have the right to request that the valuation is reviewed.

So that we can effectively review the valuation you will need to supply other comparable properties which you or your client believe are a better match than the comparables we have used. You will also be requested to supply the 'sold at' values for these with a note on what are the differences between them and your customers property.

To help you do this, sold for values can be obtained from a website called ourproperty.co.uk or landregisteronline.gov.uk.

If you would like us to review the valuation again, please complete the valuation review form. Click here.