The Mortgage Helper

2, Furze Court
Wickham Road
Fareham,
Hampshire PO16 7SH
Tel: 08451 300977

Wednesday 19 November 2008

Valuations

Before even considering a mortgage application all lenders require a standard valuation to be undertaken on the property. This is to ascertain the true value of the property being purchased or re-mortgaged.

As well as a standard valuation, there are two other types of reports available which provide the homebuyer with more information about the property, these are:

HOMEBUYER’S REPORT – this provides you with information about the general condition of the property.
FULL STRUCTURAL SURVEY – If the property is more than ten years old, or there are any aspects of the condition of the building that you would like investigated, then you could request a full structural survey, which will provide you with the required information before you make a further commitment to purchase.

Please note that in most situations YOU are expected to pay for the valuation and survey on the property you wish to purchase, although some lenders will repay the cost of the standard valuation upon completion.

Remember your mortgage is probably your largest financial commitment and here at THE MORTGAGE HELPER we want to ensure that you get the right one for your circumstances.

Call us today on 08451 300977 or click here to make an enquiry.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Mortgage advice is provided THE MORTGAGE HELPER LTD (TMH), a subsidiary of BDS MORTGAGE GROUP LTD which is authorised and regulated by the Financial Services Authority. No. 301646. We may charge a fee of up to 2% of the advance that will depend on your personal circumstances. A typical fee would be 1%. For example, a loan of £200,000 would attract a fee of £2,000.