This week our Star Letter accolade is awarded to Paul Smulovitch his response to the post: Is it a down-valuation or an overestimate? How surveyors value properties – E.surv
He said: “Richard you’re right that valuers play an integral role in the mortgage process but it is very difficult to not feel pressure is being added from some channels when certain types of transactions are downvalued on value and/or rent compared to others.
“I appreciate clients often have an ambitious figure at times on what their property is worth, but on a buy-to-let if clients are generating a certain rent and it is endemic of that area, some valuers decisions are quite difficult to accept when there is such damning evidence to the contrary.
“And the issue is where some lenders don’t accept any challenges around this, therefore meaning the client has to change lender and is often financially disadvantaged.”