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NatWest reduces and simplifies valuation fees
NatWest has reduced its valuation fees and standardised how much borrowers pay depending on property value.
There are now two property value bands, compared to 24 before.
Free standard valuations will be offered to applicants where the purchase price or property value is below £2m. This will only apply to the first standard valuation.
For purchase prices or property values up to £3m, applicants will pay £177. NatWest said this was down from the previous average cost of £352 for applications where property values were up to £3m.
Properties with a value or purchase prices over £3m have a valuation fee of £1,455.
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Costs include a £75 administrative fee and would have been applied to new applications from 12 June.
Home buyer and structural reports remain unaffected, with fees starting from £450.