Rise In Lenders Valuing Homes Below Sale Price

There has been a "significant" rise in homes being valued at less than what buyers have agreed to pay, the UK's largest mortgage advisers have said. These "down valuations", by lenders, can mean buyers having to pay thousands of pounds extra, up front, to avoid the sale collapsing. Estate agents Emoov said it reflected surveyors predicting a financial crash. UK Finance said lenders, which it represents, were right to ensure property values were realistic. The organisation said borrowers also benefited from houses having an "independent valuation". Read more on the BBC website.

https://www.bbc.com/news/business-44202542