Hi Ladies/Gents,

I am due for a remortgage shortly, and in the process need to pull some money out for home improvements as well. The banks have instructed that a surveyor come out to value the property, this same surveyor also came out roughly about a year ago to value the property, during that time the purpose of the load was extra lending on the property.

At the time, the way the valuation was done it matched my expectations, just exactly what I estimated that the property was worth, as during the application process, they do ask you how much you think the property is worth.

Bearing in mind the current economic climate, HSBC the new proposed lenders have approved mortgage + extra lending subject to valuation. They asked me during application how much the property was worth and I told them, I would like to know whether my estimates are by any chance passed onto the surveyor as well ?

Also, I would also like to know if lenders valuations also change even after a surveyor as come out, i.e the remortgage is not due to take effect until 2.5 months time, but who knows what can happen between this time, especially considering the fact that lenders such as alliance and Leicester go by the Halifax price index, so if the Halifax reports a 7% drop in property prices, A&L automatically reduce their on-record valuations by 7% as well, not so true in the London market.