Algin

My valution was also exactly what I paid, many years ago, so I think they do check with estate agents.

This makes sense. All they are saying is that you paid the correct market price.

It is a good job they did not value it lower, as you may have read that people were having problems getting values lower than they were paying.

Huckster

Hello all

I got the final mortgage offer from RBS and my standard survery/valuation went ahead last week. It was 4 bed detatched property in Leeds and our accepted offer was 239K (asking price originally 259K). We were under the impression that we got a good bargain as FTB but the std survey report valued the property at 239K itself ! (The valuer knew the accepted offer already before valuing the property). So my query: Does this valuation report actually reflect the current value of the property or can the valuer get biased by knowing the property offer beforehand?

Thanks MortgageSpecialist for your opinion. By the way, I have been to HSBC yesterday & they said their rates are changing this monday & they expect them to get more competitive with decent LTVs. So I am going to call them tomorrow to see if they have any surprises.

Also I came across a very compititive deal from RBS which is 2.89% 2 yr tracker with £999 arr fee, 80% LTV, £ 200 Val fee and £225 exit fee with a flexibility of 10% overpayments per year without early repayment charges. Lets see tomorrow if I becom eligible for it and if I can stretch myself to place a 20% deposit!

Hi everyone

I am a FTB/self employed/higher rate taxpayer whose offer has been accepted for a property under 250K. I can arrange 15-18% deposit and am making a joint mortgage appl with my wife (non-taxpayer/gets basic pay £6k/yr frm admin work in my business). we are foreign/non EU nationals and wont get permanent resident status until feb 2011 so many lenders wont consider us. However we hav good credit history & the following lenders have agreed to lend us a mortgage: (i am only after tracker rates)

1. hsbc lifetime tracker , 90% LTV, 4.89%, £999 arr fee, 192 val fee, unlimited overpayments allowed, can switch to other deals/providers anytime(no tie-in)

2. halifax purchase 2 yrs tracker, 85% LTV, (4.44% 1st yr + 4.94% 2nd yr), £995 arr fee, £430 val fee, £245 mortgage acc fee, 10% overpayments allowed, tie-in for 2 yrs

3. Nationwide flex acc tracker, 90% LTV, 4.63%, £896 resrv fee, val fee £??, £500/month overpay allowed, tie-in 2yrs and must transfer present current acc to nationwide!

we are thinking to go for hsbc lifetracker as it offers unlimited overpays and also there are no tie-ins (esp.relevant for us as we can switch to a better deal available once we get perm resident status early 2011). Kindly help/advice if we are taking the rigth steps or does any1 know of any other better deals out there, considering our circumstances! Your help will be much appreciated.