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‘Valuer decisions are difficult to accept when there’s damning contrary evidence’ – Star Letter 08/09/2017

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  • 08/09/2017
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‘Valuer decisions are difficult to accept when there’s damning contrary evidence’ – Star Letter 08/09/2017
Each week Mortgage Solutions and its sister title Specialist Lending Solutions select the most thoughtful or thought-provoking comment to be the week's Star Letter.

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.”

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‘The threat of negative equity will discourage people from moving’ – Star Letter Extra 08/09/2017

This week Mortgage Solutions and its sister title Specialist Lending Solutions has picked the best of the rest of the...

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