Valuation information

The valuation and survey fees shown here are for work carried out by e.surv, or by another valuation and surveying firm appointed by us.

Please note the valuation fee is non-refundable once the property assessment has been carried out.

A mortgage valuation is valid for 12 months. If a mortgage does not complete within 12 months of the valuation being carried out then a new valuation will be required, and a new fee potentially needs to be collected. We will advise you at the time if a new valuation fee is required.

For remortgages where there is no valuation or survey, we carry out an assessment of the property at no charge to your client.

Valuation types

Types of valuation and survey for purchase applications

Mortgage Valuation (Level 1) - this is a basic property valuation for our underwriting purposes only and may not result in a physical inspection of the property.

We may ask a surveyor to carry out an internal inspection or Remote Valuation using property details, previous sale/valuation prices and local area knowledge without visiting the property. Or we may use an Automated Valuation (AVM), a combination of historical and market data to compare the property to others in the local area. A report will only be available if a surveyor visits the property.

If a physical inspection takes place this will be based on a limited inspection and defects that could affect your client’s decision to buy may not be identified. It should not be relied on for their buying decision. There is not the option to choose the type of Level 1 valuation carried out. It is important the client is aware of the different valuation types and limitations of each.

HomePlus Survey (Level 2) - this gives a more detailed analysis of the property’s condition and defects, and a comprehensive digital report for your client. We only receive and make our lending decisions on the valuation.

We do not offer a Building Survey (Level 3), the information provided below is for guidance only. If your client would like a building survey please refer to the RICS website to locate a local surveyor. The client will still need to pay us for a Level 1 Mortgage Valuation which is for lending purposes only.

The level of detail which a surveyor will include in a valuation or survey report, depends on the type of report being carried out. The table shows you what would be included in a typical report. The valuation instruction may be passed to the surveyors as soon as an application is submitted and the valuation fee is non-refundable once the property assessment has been carried out. A mortgage valuation is valid for 12 months.

If a mortgage does not complete within 12 months of the valuation being carried out then a new valuation will be needed, and a new fee potentially needs to be collected. We will advise you at the time if a new valuation fee is needed.

See our Valuations criteria section.

Other application types

Remortgages - there is no valuation or survey, we carry out an assessment of the property at no charge to your client.

Further advances (including combined product transfer/further advance applications) - if the total loan (existing mortgage plus further advance) exceeds more than 80% loan to value of the indexed valuation a revaluation is needed for the case to proceed. If your client wishes to proceed and feels that the property value is higher and sufficient that the total lending will be within the maximum 85% limit, they may give an estimated property value.

A revaluation will be needed. The revaluation is for lender purposes only and may be completed using an automated valuation or remote valuation.