Valuation fees apply to all home movers (including BTL) – these are carried out by a valuation firm appointed through TSB.
Valuation fees are not charged on remortgages (where the loan amount is less than £1million).
Your client can choose from three options:
- Valuation only - basic report to determine property’s market value.
- Valuation and Survey - provides your client with information on any defects and provides a valuation for TSB – TSB will make a lending decision based on the valuation alone and do not receive the survey.
- Building survey and valuation - thorough inspection of the property which can be tailored to your client’s requirements. TSB base their lending decision on the valuation of the property and do not receive a copy of the building survey.
Fees must be paid in advance – the valuer will not be instructed until fees are paid in full.