What is a...

Mortgage Valuation

A Mortgage Valuation is carried out by an agent appointed by and acting on behalf of your mortgage lender, on the property that you want to buy.

This is not a survey and should not be relied on as such. The surveyor will usually use comparisons from local house sales to provide an estimated value to the property.

For a less detailed valuation, the mortgage lender may conduct a Kerbside Valuation instead.

The coronavirus pandemic and associated national lockdown impacted on the ability of lenders and valuers to carry out work, leading to delays and even restrictions on lending ratios.

If my lender is carrying out a valuation, does that mean my mortgage will be approved?

It’s an important step, and shows that a lender feels confident enough to at least move to the next step. Assuming the valuation meets the level you need it to, your mortgage lender will check your full Credit Report at least once more before making a formal mortgage offer, with additional checks before releasing funds on completion.

Should anything come up during the credit check, it could lead to delays in getting the approval which in a worst-case scenario could lead to the purchase falling through.

How can I check the information for myself?

You can see what your Credit Report says about you with checkmyfile. We show you everything a potential lender will see by taking information from the three main Credit Reference Agencies and putting it all into the same easy-to-understand format.

It's free for 30 days, and then just £14.99 per month, which you can cancel online at any time.

Should you find anything that you need help with, our team of Credit Analysts is on hand and can even raise a dispute on your behalf, should you find anything that looks incorrect.

The UK's First Provider Of Online Credit Reports

Launched 25 Years, 35 Million Credit Scores & 8 Million Credit Reports Ago

The UK's First Provider Of Online Credit Reports

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