Nationwide updates large loan criteria
Lenders keep announcing they’re making changes but not actually what they are! Maybe they should have a go at politics!
The Cynical Broker
Mortgage borrowers repeatedly mis-sold valuation reports – surveyor
This is why I do a lot of mortgages with Santander. They offer a free mortgage survey on the majority of their products.
Roy
Mortgage borrowers repeatedly mis-sold valuation reports – surveyor
I explain to all of my clients that a basic lender’s valuation is for the lender even though they pay for it, and discuss homebuyers reports etc.
It is down to the broker to explain these issues to our clients, otherwise what are we being paid for?
Colin Baxter
Mortgage borrowers repeatedly mis-sold valuation reports – surveyor
God, what next, firstly it is about time so called professionals acted like they should! Do they not know the difference between a valuation and a survey… we do, so do the lenders and it looks like the professionals need a training course.
Most, if not all advisers inform their clients of the difference between a valuation and a survey. Regulation is there for this to inform our clients, and has been for 5+ years now.
Now surveyors or valuers, do you not think it is about time you acted in a professional manner and actually do what you are paid to do and value a property, not just agree or disagree with the value/purchase price you are given.
You should not be told any figures, you should in your professional opinion provide a market valuation, with the birth of MMR the regulator should have taken the opportunity to sort this, so clients and lenders both are treated fairly, knowing truthfully what is lent on and what is purchased is worth the money spent… will it happen?
BD
