16 November 2001, 06:43 PM
#1
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Recently got my flat surveyed for re-mortgage purposes, and have noticed that the value is exactly the same as it was when I bought the flat 5 years ago.
Is this a true reflection of the value, or something special that is done for re-mortgages ???
Just thought that I'd ask before I call my FA on Monday.
Stuart
Is this a true reflection of the value, or something special that is done for re-mortgages ???
Just thought that I'd ask before I call my FA on Monday.
Stuart
16 November 2001, 11:59 PM
#2
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probably a lazy surveyor or an exceptional circumstance. Valuation is usually based on sale price of the last property of similar size and condition sold in the area. If you told the surveyor what you needed, he may have given the report based on what you paid if that covered the mortgage