Lenders Value Houses Below Market Value


The UK’s largest mortgage advisers have reported a “significant” rise in homes being valued at less than the price buyers have agreed to pay.

Emoov, one of the UK’s largest digital estate agents, said one in five of its sales now resulted in a down valuation. Two years ago, it was fewer than one in 20, it added. Emoov said they believed the trend reflected surveyors predicting a financial crash. The outcome of these “down valuations”, by lenders, can mean buyers having to pay thousands of pounds up front, to avoid the sale collapsing.

UK Finance said lenders, which it represents, were right to ensure property values were realistic. The organisation said borrowers also benefited from houses having an “independent valuation”.

You can read the full BBC News article here:  BBC News

Jasmine Lambert Chartered Financial Planner
Jasmine Lambert

Jasmine is the Managing Director and a Chartered Senior Financial Planner at Redwood Financial. She helps clients manage and grow their wealth and protect their estate. Jasmine also provides expert advice in our FREE Redwood Webinars, where you can learn more about Wills, Trusts and Estate Planning.

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