Additional Borrowing index valuation appeal process

How to Challenge the Index Valuation

The index-linked valuation can only be challenged if an increase in valuation will place the customer in a lower LTV bracket and allow access to lower LTV products.

Revaluations are 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:

• There has been an increase in accommodation size
• Additional land has been purchased
• There has been material work undertaken e.g. complete renovation, loft conversion or extension completed. 

 OR

Your client has information on property comparables and can provide if requested written confirmation that:

• At least 3 properties have been sold in the same area
• These properties must have sold within the last 3 months and
• These properties are of similar type and construction.

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.