Do valuers "punish" you if you ask for an excessively high valuation?

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    Do valuers "punish" you if you ask for an excessively high valuation?

    I am thinking of remortgaging a property in order to extract equity.

    For various reasons, it is difficult to assess the market value of this particular property. Given that I want to extract as much equity as I can, would there be any harm in putting in for the highest valuation I could possibly justify, albeit expecting a down-valuation? Or is there a risk that that would just annoy the valuer and he/she would "punish" me by being a bit tighter on the valuation than would have otherwise been the case?

    Edit: perhaps a better way of asking this question would be whether valuers become more on-guard and conservative in their approach if they fear they're being asked for an excessively high valuation, rather than suggesting they would take a vindictive approach!

    The surveyor works for the mortgage lender and he is required to provide his "valuation". You should look for mortgage lenders offering 70 % or 75% loans or higher %. But you may find the interest rate charged will be higher for higher % loans..


      Get a Rics surveyor to value your house. May cost £500 or more buy this is small in relation to sums involved. Then place your value at high end of forecast.


        Your question pre supposes that a high valuation is a 'good' thing for you and in fact may help you to get what you want at this point in time. However if you were to get an unrealistically high valuation and property values fell you theoretically could find yourself in a negative equity situation.

        In the past I borrowed on a portfolio basis which allowed the total value of my portfolio to support any individual property and even then the lender gave what they thought was a current market valuation on an individual property I wished to buy. I was grateful for a lower valuation ( £10,000 below asking price) at that time (early 2008) because it made me pull out of a transaction which would have been financially disastrous.

        To answer your question - I don't think you are able to influence a valuer's decision as they are valuing the property for the lender, not you.


          Originally posted by AlexR View Post

          To answer your question - I don't think you are able to influence a valuer's decision as they are valuing the property for the lender, not you.
          I hope that that is now true - it certainly wasn't 20 years ago when one could haggle with the valuer as although they were reporting to the lender, they were being instructed and paid by us.


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