Mortgage Company Valuation

[Bumfluff]

Just had the mortgage company valuation through it was £40k / 10% less than estate agents I'm not fused as it works in my favour in current circumstances anyone buying it would Im sure try to go with the mortgage company valuation. When the mortgage company does the valuation in the current climate do you think they are factoring in the further reduction in prices that is predicted to continue ?

[Platypus]

When the mortgage company does the valuation in the current climate do you think they are factoring in the further reduction in prices that is predicted to continue ?

No, I think they factor in what it's worth as an asset to secure a loan, i.e. a realistic valuation.

Estate agent will factor in optimism, taking a punt and some negotiating space.

Trust the mortgage co.

[Dow Jones]

Surveyors are under pressure from lenders to undervalue in the same way as estate agents are under pressure from vendors to overvalue. Has been happening ever since one can remember and certainly now under the current climate