Valuable Changes to our Valuation Fees and Policy Procedure
Jun 13 2017
We are pleased to announce changes to our valuation fees and policy procedure. These changes will help us to provide customers with an improved standard of service and a better all-round experience.
What are the changes?
- A new valuation fee scale for long-form reports on commercial, semi-commercial and large HMO properties worth up to £1m
- More valuer firms added to the panel
- Extended validity period of all valuation reports, including Commercial, Buy to Let, and HMO, from 4 months to 6 months
- Subject to criteria, lending against the Investment Value of a commercial, semi-commercial or large HMO property that exceeds the Vacant Possession value, can now be considered
What are the benefits?
A valuation fee scale for commercial properties worth up to £1m will help you to clearly outline the costs for more of your commercial property cases before they are submitted. It will also speed up the ordering stage of the valuation process by limiting the need to obtain quotations. Our new valuation fee scale is available on our tools and resources page.
Extending the validity of all valuation reports means more of your cases will complete without the property having to be re-valued.
Lending against the investment value of a commercial, semi-commercial or large HMO property means your client can potentially borrow more money, or the same amount at a lower rate. This can only be considered subject to specific criteria, details of which can be found in our Key Partner Guidelines.