Find out what happens when we are asked to value a property when mortgage finance is being arranged.
A valuation is an opinion of value of a property provided by an appropriately trained and regulated RICS Valuer. Valuations may be obtained for a variety of purposes.
Most of the valuations undertaken by Countrywide Surveying Services are for mortgage lenders wishing to ensure a property is suitable security for lending purposes.
A valuation for mortgage purposes is based on a limited visual inspection. It only reflects matters which are considered so significant that they may affect value or concern the mortgage lender. While the condition of a property will be considered and reflected in the valuation, defects or problems are unlikely to be detailed in the report prepared by the valuer.
For example: dampness may be discovered during the inspection, however, if it's not considered to affect the value, then it will often not be reported.
