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Time to debunk the downvaluing myth


I recently addressed a group of people who represented every part of the mortgage chain. Readers will know that like the Starship Enterprise, I have a mission to boldly reach out and touch those who are confused or suspicious of the valuation process.

I was surprised to hear some of the misconceptions that still exist so in an attempt to put the lid on them, here’s a recap.

There is no secret instruction from lenders asking valuers to downvalue properties. If they didn’t want to lend, it would be far easier not to take the application than to pay an entire profession to do the dirty work.

Rather than having more downvaluations, there are about a third fewer than two years ago. If anyone wants the objective data by postcode, please make contact.

Valuers will generally be happy to review figures in the light of additional evidence but usually this has to come via the lender so check its process first to save time.

Valuers sometimes differ – this doesn’t make them incompetent but they should be within a reasonable range of one another. If not, one or both of them is probably wrong.

And finally, valuers are not an alien species. Talk to them about your issues and you may find them surprisingly human.


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  • Kevin Vella 8th December 2010 at 4:23 pm

    I had a purchase downvalued by E Surv in July by 20%, a rebroke was called for and new survey instructed. Esurv were again nominated and 3 weeks later valued it at the full PP. I think it’s inconsistencies like this that inspire negative comments.