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FOR THE USE OF MORTGAGE INTERMEDIARIES & OTHER PROFESSIONALS ONLY

FOR THE USE OF MORTGAGE INTERMEDIARIES & OTHER PROFESSIONALS ONLY

Challenging the valuation

How to appeal when the property has hidden attributes (desktop only)

If your client would like to appeal the market value following a desktop valuation where there is a difference in the attributes confirmed at valuation, e.g. the property has been extended and additional rooms have been added or a loft/basement conversion has taken place, please provide at least one piece of supporting evidence. You may provide more than one piece of evidence, but this is not a requirement.

Examples of suitable evidence include:

  • photographs & floor plans of the extension works and/or;
  • Copies of street view images that illustrate notable differences before & after works and/or;
  • (if available) any planning permission correspondence & local authority building control completion certificates.

Important note: this list of example evidence is intended as a guide and is not exhaustive or mandatory. Please feel free to submit other types of evidence not listed above if it will support your appeal.

Evidence should be sent to ValuationQueries@tsb.co.uk, stating it is for an attribute valuation appeal, our operations team will review the evidence provided and once satisfied, instruct an internal valuation.

Cosmetic improvements such as redecoration, double glazing and landscaping are not acceptable improvements to enable an appeal of this nature to be approved.

How to appeal using comparable property sales evidence (desktop and internal valuation)

A valuation is only eligible for appeal using comparable property sales evidence where the valuation is more than 15% lower than the purchase price/estimated value. Valuations returned within 15% of the purchase price/estimate value cannot be appealed.

If your client would like to appeal the market value of a property valuation, they must provide the following:

  • Evidence of three comparable property sales within the last three months, along with supporting rationale detailing any improvements made to the subject property.

Evidence of the sale price and date of sale from the estate agents for each comparable property is required. This includes sale price, date of completion (DD/MM/YYYY), full address of the properties including postcode and name of estate agents who sold the properties. Also, details of how the properties compare with the subject property in terms of size, age and condition as well as the distance between them.

You will need to complete the TSB Valuation and Market Rent Appeal Form and send it in an editable format along with any supporting documentation to ValuationQueries@tsb.co.uk. The email subject title must include the full property address, application ID and state it is for a valuation appeal

More information

We will not accept the use of a client’s own valuation (prepared by another valuer) in place of the one commissioned for our purposes.

We can’t accept an estimated asking price of a property that is not on the market or a property that is not sold, as a minimum, subject to contract.

New build

For new build properties any evidence provided must be directly comparable. And, where ‘incentives’ have been provided by the house builder, these should be clearly documented.

Challenging the rental valuation

A rental valuation is only eligible for appeal using comparable property sales evidence where the valuation is more than 15% lower than the instructed rental value. Rental valuations returned within 15% of the instructed rental value cannot be appealed.

If your client would like to appeal a market rent of a property valuation, they must provide the following: 

  • 3 comparable properties rented within the last 3 months which are receiving a similar rental figure. Details of how the properties compare with the subject property in terms of size, age, condition and the distance from that subject property must be provided.

Evidence of the agreed rent and date rent agreed from the estate agents for each comparable property is required. This includes agreed rental price, date rent agreed (DD/MM/YYYY), full address of the properties including postcode and name of estate agents who sold the properties. Also, details of how the properties compare with the subject property in terms of size, age and condition as well as the distance between them.

You will need to complete the TSB Valuation and Market Rent Appeal Form and send it in an editable format along with any supporting documentation to ValuationQueries@tsb.co.uk. The email subject title must include the full property address, application ID and state it is for a valuation appeal.

The surveyor’s decision is final, TSB cannot overturn the outcome of a valuation appeal.