David Tonge Financial Services

David Tonge Financial Services
Tel. 0161 976 2016
Mobile: 07957 324631
Fax: 0161 972 0113.
davidtonge@ntlworld.com

Friday 21 November 2008

Valuations

Before even considering a mortgage application all lenders require a standard valuation to be undertaken on the property. This is to ascertain the true value of the property being purchased or re-mortgaged.

As well as a standard valuation, there are two other types of reports available which provide the homebuyer with more information about the property, these are:

HOMEBUYER’S REPORT – this provides you with information about the general condition of the property.
FULL STRUCTURAL SURVEY – If the property is more than ten years old, or there are any aspects of the condition of the building that you would like investigated, then you could request a full structural survey, which will provide you with the required information before you make a further commitment to purchase.

Please note that in most situations YOU are expected to pay for the valuation and survey on the property you wish to purchase, although some lenders will repay the cost of the standard valuation upon completion.

Remember. Mortgages are personal to you - your circumstances, your lifestyle and your budget.

Do you really want to make the biggest purchase of your life without talking to David Tonge Financial Services first

Call us now 0161 976 2016 or 07957 324631

Your home may be repossessed if you do not keep up repayments on your mortgage