FOR THE USE OF MORTGAGE INTERMEDIARIES & OTHER PROFESSIONALS ONLY
The index-linked valuation can only be challenged if an increase in valuation will put the customer in a lower LTV bracket and allow access to lower products.
not available for simple home improvements such as double-glazing, redecoration
and landscaping as these do not significantly increase the property value.
A revaluation can only be arranged where either:
Your client has information on property comparables and can provide written confirmation that:
Please be aware that the revaluation result could be lower than the client’s estimate. Or, it may be less than the current index-linked value.
If the product required can be achieved without revaluation, or you feel an appeal is unlikely to achieve the desired result, you should continue with the application using the index valuation figure.
If the revaluation fails to provide the necessary figure to obtain the preferred product, there is no right of appeal.